A university graduate bought a new car. The cash price is $ 19,000; he made a...
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A university graduate bought a new car. The cash price is $ 19,000; he made a $ 1,400 down payment on it. The bank's loan was for 20 months. Finance charges totaled $ 4,900. What was the monthly payment? (B) A steel factory bought a new equipment. The cash price of the equipment is $9,000, putting down $3,800 and financing the remainder with 20 monthly payments of $ 288.50 each. Find the APR by table lookup. (C) A person bought an apartment. The cash price is $ 190,000; he made a $ 40,000 down payment on it. The bank's loan was for 120 months. Finance charges totaled $ 30,000. What was the monthly payment? A university graduate bought a new car. The cash price is $ 19,000; he made a $ 1,400 down payment on it. The bank's loan was for 20 months. Finance charges totaled $ 4,900. What was the monthly payment? (B) A steel factory bought a new equipment. The cash price of the equipment is $9,000, putting down $3,800 and financing the remainder with 20 monthly payments of $ 288.50 each. Find the APR by table lookup. (C) A person bought an apartment. The cash price is $ 190,000; he made a $ 40,000 down payment on it. The bank's loan was for 120 months. Finance charges totaled $ 30,000. What was the monthly payment?
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Related Book For
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
Posted Date:
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