e net price. Your buyer also need to pay the monthly amortization of 34,950 for 5 years.How much was the down payment paid by the
e net price. Your buyer also need to pay the monthly amortization of 34,950 for 5 years.How much was the down payment paid by the
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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You were able to sell a car worth 2,100,000, which would be financed by a bank. You told your buyer that the required down payment was 20% of the net price. Your buyer also need to pay the monthly amortization of 34,950 for 5 years.How much was the down payment paid by the buyer?
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