Question: - please answer in excel and show work please The manager of Steve s Audio has approved Daisy's application for 2 4 months of credit

- please answer in excel and show work please
The manager of Steves Audio has approved Daisy's application for 24 months of credit with maximum monthly payments of $65. If the annual percentage rate (APR) is 15.8 percent, what is the maximum initial purchase that Daisy can buy on credit?
Multiple Choice
$1538.25
$1,330.12
$890.99
$980.99
$1,434.67

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!