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Find the equivalent cash price of a $1500 monthly payment over two years assuming 18% interest compounded monthly.

Find the equivalent cash price of a $1500 monthly payment over two years assuming 18% interest compounded monthly.
asked 43.1k views
21 votes
Find the equivalent cash price of a $1500 monthly payment over two years assuming 18% interest compounded monthly.

asked
User Vibha Chosla
by
8.2k points

2 Answers

14 votes
6840 that is the answer
answered
User Shotor
by
8.0k points
11 votes

Answer:

6480

Explanation:

18% of 1500 is 270 x 24 for each month of 2 years and you get 6480

answered
User Hluk
by
8.7k points
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