Alpha Geek

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Category > Business & Finance Posted 10 Jun 2017 My Price 5.00

Pierce Publishing sells encyclopedias under two payment plans

Pierce Publishing sells encyclopedias under two payment plans: cash or installment. Under the installment plan, the customer pays $25/month over 2 yr with interest charged on the balance at a rate of 19%/year compounded monthly. Find the cash price for a set of encyclopedias if it is equivalent to the price paid by a customer using the installment plan. Please round the answer to the nearest cent.

Select the correct answer

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Alpha Geek
(8)
Status NEW Posted 10 Jun 2017 09:06 AM My Price 5.00

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Attachments

file 1497087170-1769056_1_636325950552298666_Present-value-payment.xlsx preview (117 words )
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