Everydaylearner
New member
- Joined
- Dec 27, 2021
- Messages
- 21
Hey guys so I have a question on this problem. I'm not quite sure where I went wrong. I'm approximately $40 off on both answers. The only thing I could think of is possibly applying TVM to the down payment in the option 2 but how? Would I use PV or FV formula. Same for Option 3 (this one confuses me because it says zero interest loan). I divided 15000 by 36 to get the 416.6667 then used the PV formula to get the net cost. Any help would be awesome.