You wish to buy a 10400 dining room set the furniture store, Financial Management

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You wish to buy a 10400 dining room set the furniture store

Question

You wish to buy a $10,400 dining room set. The furniture store offers you a 3-year loan with an 12 percent APR. What are the monthly payments? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

Payment $

per month

How would the payment differ if you paid interest only? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

Payment $

per month

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