To Buy a Used Car,you Have Two Options

question 25

Multiple Choice

To buy a used car,you have two options.You can pay $10,400 in cash today (December 12,2014) or you can pay $R every month,from December 12,2014 and to July 12,2017.If the interest rate is j₁₂ = 6%,what is R?

• A)$352.50
• B)$362.99
• C)$350.75
• D)$361.19

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