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August 30, 2014

Homework Help: business math

Posted by sabrina on Wednesday, September 28, 2011 at 8:54pm.

Is it more economical to buy an automobile for $29,000 cash or to pay $4,500 down and $3,000 at the end of each quarter for 2 years, if the money is worth 8% compounded quarterly? What is the cash equivalent savings by picking the better plan?

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