What price will a finance company pay to a merchant for a conditional sale contract that requires

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What price will a finance company pay to a merchant for a conditional sale contract that requires 15 monthly payments of $231 beginning in six months? The finance company requires a rate of return of 18% compounded monthly.

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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 07:43 AM

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What price will a finance company pay to a merchant for a conditional sale contract that requires

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The price paid will be the present value of the payment...View the full answer

Business Mathematics In Canada

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