Calculating apr with monthly compounding, Finance Basics

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Calculating apr with monthly compounding

Your firm is considering the purchase of a new office phone system. You can either pay $32,000 now, or $1000 per month for 36 months.

a. Suppose your firm currently borrows at a rate of 6% per year (APR with monthly compounding).
Which payment plan is more attractive?

b. Suppose your firm currently borrows at a rate of 18% per year (APR with monthly compounding).
Which payment plan would be more attractive in this case?

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Finance Basics: Calculating apr with monthly compounding

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Finance Basics: Calculating apr with monthly compounding

Reference No:- TGS024148

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

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Request for Solution File

Ask an Expert for Answer!!

Finance Basics: Calculating apr with monthly compounding

Reference No:- TGS024148

Recent Questions Asked Finance Basics

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