Anonymous
Anonymous asked in Business & FinancePersonal Finance · 2 months ago

Home work help?

7) Mark purchases a motor scooter. His bank gave him a personal loan with monthly payments of $125.75 for two years at 9.85% per year, compounded monthly. 

a) What's the actual cost of the scooter if Mark were to pay for it in cash today?

b) How much interest will he pay by choosing the payment plan?

1 Answer

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  • 1 month ago

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