A contractor bought a new computer system for 520,000 pesos. After making a down payment of 130,000 pesos, he agreed to payments of 18,627 pesos per month for 24 months. Find the total installment cost and the annual percentage rate using the APR table. Click here to view page 1 of the APR Table for Monthly Payment Plans. The total installment cost
A contractor bought a new computer system for 520,000 pesos. After making a down payment of 130,000 pesos, he agreed to payments of 18,627 pesos per month for 24 months. Find the total installment cost and the annual percentage rate using the APR table. Click here to view page 1 of the APR Table for Monthly Payment Plans. The total installment cost
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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A contractor bought a new computer system for 520,000 pesos. After making a down payment of 130,000 pesos, he agreed to payments of 18,627 pesos per month for 24 months. Find the total installment cost and the annual percentage rate using the APR table.
Click here to view page 1 of the APR Table for Monthly Payment Plans.
The total installment cost is ____ pesos.
The annual percentage rate is ___%.
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