Chang bought a desktop computer and a laptop computer. Before finance charges, the laptop cost $200 less than the desktop. He paid for the computers using two different financing plans. For the desktop the interest rate was 8% per year, and for the laptop it was 6.5% per year. The total finance charges for one year were $335. How much did each computer cost before finance charges? Desktop: S|| Laptop: S
Chang bought a desktop computer and a laptop computer. Before finance charges, the laptop cost $200 less than the desktop. He paid for the computers using two different financing plans. For the desktop the interest rate was 8% per year, and for the laptop it was 6.5% per year. The total finance charges for one year were $335. How much did each computer cost before finance charges? Desktop: S|| Laptop: S
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
Problem 5CE
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