Question

1.An increased in accounts payable is a source of funds

a. True

b. False

24. Your favourite cousin bought a brand new couch during the holidays and decided to finance the purchase for $2,800. She signed a contract for a 2 year loan, which compounds daily at 24.9%. What is the monthly payment that she can expect to make? (Select the closest number)

Based on question #24, what is the total amount of interest that your cousin can expect to pay for the sofa over the life of the loan?

Answer 1

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