2. John Walters is comparing the cost of credit to the cash price of an item. If John makes an $80 down payment and pays $35 a month for 24 months, how much more will that amount be than the cash price of $685?

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A:

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A: The correct option is  D. 10.63% Please see the next step for the solution

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Q: 1. Suppose that Nora invested $800at 8.5% compounded annually for 7years and Patti invested $800 at…

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Q: Based on Baumol (1952). Money in your savingsaccount earns interest at a 3% annual rate. Each…

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Q: I now have $28,000 in the bank earning interest of 1.00% per month. I need $38,000 to make a down…

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Q: Recently, you made multiple large purchases on your credit card totaling $16,575. The interest rate…

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A: Here,

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Q: The cash price of a washing machine is RO 495. Hilal pays RO 25 down and makes 20 payments of 26 RO…

A: Given: Cash price = RO495 Down payment =RO 25 Number of payments = 20 Amount paid = RO26

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Q: How much is the effective cost if you need to borrow $400,000 for one year with $475,000 line…

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Q: How much is the effective cost if you need to borrow $400,000 for one year with $475,000 line…

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