An exclusive store is selling you an expensive but unique ring that will give you the ability to manage time at your convenience and the company is offering two payment options: Pay in cash today $450,000 Euros or a monthly payment of $30,000 for the next 5 years. What is the implicit monthly interest?

Answer rating: 100% (QA)

To calculate the implicit monthly interest we need to compare the total amount paid in monthly insta... View the full answer