(please solve within 15 minutes I will give thumbs up thanks) You purchase an RV by making a down payment of $10,700. The terms of your finance agreement have an annual interest rateof 2.56%, compounded monthly, and require you to make 36 monthly payments of $1,498.75 each. What is the cash price (indollars) of your RV? (Round your answer to the nearest dollar.)%24

Down payment = $10,700 Monthly payment (P) = $1498.75 Interest rate = 2.56% Monthly interest rate…

You purchase an RV by making a down payment of 2.56%, compounded monthly, and require you to make 36 monthly payments of $1,498.75 each. What is the cash price (in dollars) of your RV? (Round your answer to the nearest dollar.) $10,700. The terms of your finance agreement have an annual interest rate 2$

You purchase an RV by making a down payment of 2.56%, compounded monthly, and require you to make 36 monthly payments of $1,498.75 each. What is the cash price (in dollars) of your RV? (Round your answer to the nearest dollar.) $10,700. The terms of your finance agreement have an annual interest rate 2$

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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