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Posted by: Homeworkhelp
Price Quoted by Student: $1.5
Posted On: 2011-08-20 08:08:51
 
Question

Don James purchased a new automobile for $20,000. Don made a cash down payment of $5,000 and

ANSWER KEY E 6-13 Solving for unknown annuity payment

E 6-13 Don James purchased a new automobile for $20,000. Don made a cash down payment of $5,000 and agreed to pay the remaining balance in 30 monthly installments, beginning one month from the date of purchase. Financing is available at a 24% annual interest rate.

Required:

Calculate the amount of the required monthly payment.


Solutions
ANSWER KEY Exercise 6-13    &n
Price $1.5
Attachment 1: E 6-13 Don James.doc
Solution Posted By: Homeworkhelp    Posted on: 20-08-2011