Youve just bought a new flat-screen TV for $3,000 and the store you bought it from offers
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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 14 percent compounded monthly. If you take the financing and make monthly payments of $100, how long will it take to pay the loan off? How much will you pay in interest over the life of the loan?
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We are to find the number of months it will take you to pay off a 3000 flat screen TV which you fina...View the full answer
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Munir Ahmed Jakhro
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Related Book For 
Financial Management Principles and Applications
ISBN: 978-0133423822
12th edition
Authors: Sheridan Titman, Arthur Keown, John Martin
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