Answer:
22 people
Step-by-step explanation:
Answer:
Cash price
Step-by-step explanation:
The computation is shown below:
The Interest rate per month (r) = (9% ÷ 12) = 0.75%
Now Present value of the monthly payment is
= PMT × {[(1 + rate of interest)^number of years - 1] ÷ rate of interest}
= 1,499 × {[(1 + 0.75%)^12 - 1] ÷ 0.75%}
= 18,748.89
And the cash price is 15,999
So, the cash price would be lower
