A car dealer offers you a "buy now, pay later" deal in which you can...
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A car dealer offers you a "buy now, pay later" deal in which you can buy the car now, and pay $1000 every month for the next 3 years. If your opportunity cost is 5% p.a. compounded monthly, what is the value of the car?
$8,504.88
$16,546.85
$8,863.25
$33,365.70
A car dealer offers you a "buy now, pay later" deal in which you can buy the car now, and pay $1000 every month for the next 3 years. If your opportunity cost is 5% p.a. compounded monthly, what is the value of the car?
| $8,504.88 | ||
| $16,546.85 | ||
| $8,863.25 | ||
| $33,365.70 |
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