Question
You've just bought a new flat-screen TV for $3,000 and the store you bought it from offers to let you finance the entire purchase at
You've just bought a new flat-screen TV for $3,000 and the store you bought it from offers to let you finance the entire purchase at an annual rate of 12 percent compounded monthly. If you take the financing and make monthly payments of $100, how long will it take to pay off the loan? How much will you pay in interest over the life of the loan?
a. The number of years it will take to pay off the loan is
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Business Analysis And Valuation Using Financial Statements
Authors: Krishna G Palepu, Paul M Healy
4th Edition
032430286X, 9780324302868
