Joe is buying some kitchen equipment for his new apartment. The total cost is $ 3,800$3,800 and he places a down payment of $380 There is add-on interest of 10% What is the total amount to be repaid if he takes 4 years to pay for the purchase? Round the answer to the nearest cent. A.)3762.00 B.)4788.00 C.)140220.00 D.)None of the above is correct.

Joe is buying some kitchen equipment for his new apartment. The total cost is $ 3,800$3,800 and he places a down payment of $380 There is add-on interest of 10% What is the total amount to be repaid if he takes 4 years to pay for the purchase? Round the answer to the nearest cent. A.)3762.00 B.)4788.00 C.)140220.00 D.)None of the above is correct.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 8P

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