Ask a New Question

Under the installment plan, the customer pays $24/month over 4 yr with interest charged on the balance at a rate of 16%/year compounded monthly. Find the cash price for a set of encyclopedias if it is equivalent to the price paid by a customer using the installment plan.

Ask a New Question or answer this question.

Similar Questions

Pierce Publishing sells encyclopedias under two payment plans: cash or installment. Under the installment plan, the customer
1. 1 answer
Pierce Publishing sells encyclopedias under two payment plans: cash or installment. Under the installment plan, the customer
1. 1 answer
Mike’s Sporting Goods sells elliptical trainers under two payment plans: cash and installment. Under the installment plan, the
1. 1 answer
1.)In a(n) _________ , simple interest is added on to the amount borrowed and the total is repaid in equal installments.a.)Month
1. 1 answer

more similar questions