Rula has purchased a new car for $30,000. She paid $3,000 as a down payment, and she
Fantastic news! We've Found the answer you've been seeking!
Question:
Rula has purchased a new car for $30,000. She paid $3,000 as a down payment, and she paid the remaining balance by a loan from her hometown bank. Rula will pay off the loan by equal annual installments of $7490. How many years will it take Rula to pay off the loan, given an opportunity cost of 12%?
Related Book For
Fundamentals Of Corporate Finance
ISBN: 9780135811603
5th Edition
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
Posted Date: