Which plan is the least expensive. The interest rate is 12% Plan A: initial payment...
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Which plan is the least expensive. The interest rate is 12%
Plan A: initial payment of $ 50,000 (zero time) and equal payments of $ 25,000 for 20 years.
Plan B: $ 0 (no down payment) and equal payments of $ 31,000 over 20 years.
Plan C: $ 100,000 down payment and equal payments of $ 21,000 over 20 years.
a. They are all the same
b. Plan A = $ 236,740
c. Plan C = $ 267,230
d. Plan B $ 231,550
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