As a recently- graduated finance major embarking on a career in investment banking, you naturally must own
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As a recently- graduated finance major embarking on a career in investment banking, you naturally must own a Benz immediately. The car cost $56,640. You also must spend $6,496 on blue pin-stripe suits. Your salary this year is $84,000, and next year it will be $92,000. Your routine living expenses this year will be $68,000. You plan to make up the difference between current income and current consumption by getting a loan at a rate of 14%. You intend to repay the loan, plus interest, in one year. How much will you have left to spend next year?
Related Book For
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
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