Anny takes out an installment loan to finance the purchase of a pickup truck costing $14,700. Her loan requires a 25% down payment and equal monthly payments of $285.00 for 60 months. Calculate the total deferred payment price (in $).
Anny takes out an installment loan to finance the purchase of a pickup truck costing $14,700. Her loan requires a 25% down payment and equal monthly payments of $285.00 for 60 months. Calculate the total deferred payment price (in $).
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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Anny takes out an installment loan to finance the purchase of a pickup truck costing $14,700. Her loan requires a 25% down payment and equal monthly payments of $285.00 for 60 months. Calculate the total deferred payment price (in $).
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