You want to buy a computer for $2,000. The interest rate is on the loan is 12%, and you have 18 months to pay the loan off. What is the total price of the computer (including the interest)? Hint: the "total cost" will be Principal plus Interest. $2,324 $2,195 $195 $121 $1,943

You want to buy a computer for $2,000. The interest rate is on the loan is 12%, and you have 18 months to pay the loan off. What is the total price of the computer (including the interest)? Hint: the "total cost" will be Principal plus Interest. $2,324 $2,195 $195 $121 $1,943

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

You want to buy a computer for $2,000. The interest rate is on the loan is 12%, and you have 18 months to pay the loan off. What is the total price of the computer (including the interest)?

Hint: the "total cost" will be Principal plus Interest.

$2,324

$2,195

$195

$121

$1,943

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