Daniela buys an air conditioner on credit worth $ 7,800 in cash. The payment of the equipment

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Daniela buys an air conditioner on credit worth $ 7,800 in cash. The payment of the equipment is made through 16 monthly subscriptions that increase 10% successively. If the interest rate is 28% per year, capitalized monthly,

a) How much will the first and last subscription be?

b) What is the interest (amount; $ I) to pay to use the credit?

Related Book For answer-question

Economics Principles and Policy

ISBN: 978-1305280595

13th edition

Authors: William Baumol, Alan Blinder

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Posted Date: Jul 25, 2020 05:06 AM

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Daniela buys an air conditioner on credit worth $ 7,800 in cash. The payment of the equipment

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YEARLY interest 28 monthly interest 28127323300233 growth 10 P... View the full answer

Economics Principles and Policy

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