Mr Brown wants to buy a new car that costs 31200. He pays immediately 5000, followed by 10 payments: 2400 at the end of each of the first 6 years, 4100 at the end of each of the next 3 years, and R>0 at the end of the last year. Compute R assuming that interest is compounded at the annual rate of interest of 8.18%. Oa. 17 439.94 Ob.8594.53 Oc 3915.19 Od. 18 866.53
Mr Brown wants to buy a new car that costs 31200. He pays immediately 5000, followed by 10 payments: 2400 at the end of each of the first 6 years, 4100 at the end of each of the next 3 years, and R>0 at the end of the last year. Compute R assuming that interest is compounded at the annual rate of interest of 8.18%. Oa. 17 439.94 Ob.8594.53 Oc 3915.19 Od. 18 866.53
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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