Gibson ES-195 Electric Guitar (with Case), Vintage Transparent Amber Gloss, Blemished This big-bodied fully-hollow guitar is loaded with P-94 pickups and a Bigsby vibrato to take your tone and your playing to bold new places. "My Precious" RETAIL PRICE: TODAY ONLY FINANCING TERMS: DOWN PAYMENT APR TERM (yrs) Financing Option #1: Finance now Monthly Payment Total Paid Back Total Cost Interest Paid $ Months req'd Years req'd 3,998 51% off 5% 8.50% 4 $47.74 $2,291.74 $2,393.69 $354.71 Saving Option: Save until I can afford full retail price Assumed monthly savings: $75 Assumed savings rate: 10% 53.3 4.4 Sale Price: Down Payment: Amount to Finance: monthly interest rate $2,038.98 $101.95 $1,937.03 How many months must I save? How many years does that equal? 0.007083333: What will my monthly payment be to own "My Precious"? Total amount paid to bank? What does "My Precious" really cost me? How much I pay in interest to be able to own "My Precious" today.
Gibson ES-195 Electric Guitar (with Case), Vintage Transparent Amber Gloss, Blemished This big-bodied fully-hollow guitar is loaded with P-94 pickups and a Bigsby vibrato to take your tone and your playing to bold new places. "My Precious" RETAIL PRICE: TODAY ONLY FINANCING TERMS: DOWN PAYMENT APR TERM (yrs) Financing Option #1: Finance now Monthly Payment Total Paid Back Total Cost Interest Paid $ Months req'd Years req'd 3,998 51% off 5% 8.50% 4 $47.74 $2,291.74 $2,393.69 $354.71 Saving Option: Save until I can afford full retail price Assumed monthly savings: $75 Assumed savings rate: 10% 53.3 4.4 Sale Price: Down Payment: Amount to Finance: monthly interest rate $2,038.98 $101.95 $1,937.03 How many months must I save? How many years does that equal? 0.007083333: What will my monthly payment be to own "My Precious"? Total amount paid to bank? What does "My Precious" really cost me? How much I pay in interest to be able to own "My Precious" today.
PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
6th Edition
ISBN:9781337117005
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter7: Using Consumer Loans
Section: Chapter Questions
Problem 8FPE
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