Solved

You Work for a Furniture Store

Question 219

Multiple Choice

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:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents