Time Value of Money You have been hired by your boss to by a car. 1) Option 1: Buy the car for 50k cash 2) Option 2: Buy the car on loan: $950 monthly payment, 60 month period with an annual interest rate of 7%. Which option would you go with? b) If you decide to go with option B, how much is the interest after 60 months? c) After 12 months how much do you have left on your loan? Thanks!!!
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Time Value of Money You have been hired by your boss to by a car. 1) Option 1: Buy the car for 50k cash 2) Option 2: Buy the car on loan:
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