Darby is considering buying the latest 3D printer under a financing arrangement. The terms of the agreement call for monthly payments, at the end of each month, of $100 for 24 months. If the interest rate associated with the financing is 9% P.A. compounded monthly, what is the implied cash price of the printer? Round your answer to the nearest dollar.
Answer:
Check
If the payments were at the beginning of each month, what is the implied cash price of the printer? Round your answer to the nearest dollar.
Answer:
Check