What price will a finance company pay for a conditional sale contract requiring 15 monthly payments of

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What price will a finance company pay for a conditional sale contract requiring 15 monthly payments of $180.50, if the company requires a rate of return of 21% compounded semiannually? The first payment is due one month from now.

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Jan 20, 2016 07:38 AM

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What price will a finance company pay for a conditional sale contract requiring 15 monthly payments of

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The finance company will pay an amount equal to the present value of the 15 ...View the full answer

Business Mathematics In Canada

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