You work for a furniture store. You normally sell a living room set for $2,500 and finance the full purchase price for 30 monthly payments at 24% APR. You are planning to run a zero-interest
financing sale during which you will finance the set over 30 months at 0% interest. What is the
Monthly payment on a zero-interest loan that you must charge during the sale in order to earn your
Usual combined return on the sale and the financing?
A) $83.33
B) $89.72
C) $95.24
D) $111.62
E) $128.43
Correct Answer:
Verified
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