Mahtab wants to buy a car and is offered two payment options: (#1) cash payment of $26,899 + HST or (#2) 10% down payment + 36 monthly payments of $861.96 (taxes included). (d) The portion of the after-tax cash cost that was financed was $26,285.36 $28,487.93 $27,705.87 $24,209.00 Mahtab wants to buy a car and is offered two payment options: (#1) cash payment of $26,899 + HST or (#2) 10% down payment + 36 monthly payments of $861.96 (taxes included). (e) The (yearly) interest paid with the instalment plan is

Mahtab wants to buy a car and is offered two payment options: (#1) cash payment of $26,899 + HST or (#2) 10% down payment + 36 monthly payments of $861.96 (taxes included). (d) The portion of the after-tax cash cost that was financed was $26,285.36 $28,487.93 $27,705.87 $24,209.00 Mahtab wants to buy a car and is offered two payment options: (#1) cash payment of $26,899 + HST or (#2) 10% down payment + 36 monthly payments of $861.96 (taxes included). (e) The (yearly) interest paid with the instalment plan is

PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)

6th Edition

ISBN:9781337117005

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter7: Using Consumer Loans

Section: Chapter Questions

Problem 8FPE

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Question- Mathab wants to buy a car and is offered two payments options (#1) cash payments of $26,889 + HST or (#2) 10% down payment + 36 monthly payments of $861.96 (taxes included). The total cost of the instalment plan is?
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