Osgood Appliance Centre is advertising refrigerators for six monthly payments of $199, including a payment on the date of purchase. What cash price should Osgood accept if it would otherwise sell the conditional sale agreement to a finance company to yield 18% compounded monthly? A)$1150.75 B) 1242.50 C )1352.02 D) 1298.78 E) 1045.87

Osgood Appliance Centre is advertising refrigerators for six monthly payments of $199, including a payment on the date of purchase. What cash price should Osgood accept if it would otherwise sell the conditional sale agreement to a finance company to yield 18% compounded monthly? A)$1150.75 B) 1242.50 C )1352.02 D) 1298.78 E) 1045.87

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 11EB: Gear Up Co. pays 65% of its purchases in the month of purchase, 30% in the month after the purchase,...

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Osgood Appliance Centre is advertising

refrigerators for six monthly payments of $199,

including a payment on the date of purchase.

What cash price should Osgood accept if it would otherwise sell the conditional sale agreement to a finance company to yield 18% compounded monthly? A)$1150.75 B) 1242.50 C

)1352.02 D) 1298.78 E) 1045.87

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