Pierce Publishing sells encyclopedias under two payment plans: cash or installment. Under the installment plan, the customer pays $23/month over 2 yr with interest charged on the balance at a rate of 15%/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. Please round the answer to the nearest cent.
Pierce Publishing sells encyclopedias under two payment plans: cash or installment. Under the installment plan, the customer pays $23/month over 2 yr with interest charged on the balance at a rate of 15%/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. Please round the answer to the nearest cent.
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Pierce Publishing sells encyclopedias under two payment plans: cash or installment. Under the installment plan, the customer pays $23/month over 2 yr with interest charged on the balance at a rate of 15%/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. Please round the answer to the nearest cent.
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