Hey guys this problem has been on 2 of my finance exams now and I am struggling how to do it any insight?
An automobile is purchased for $1200 down and $187 per month for three and one-half years. What is the equivalent cash price if money is worth 9% converted monthly?
An automobile is purchased for $1200 down and $187 per month for three and one-half years. What is the equivalent cash price if money is worth 9% converted monthly?
$6715.86 | ||
$7915.86 | ||
$8417.21 | ||
$7317.49 |