Financial Mathematics
Time payment- agreement to pay for goods over a certain period of time. This is also called a hire purchase as the customer actually hires (borrows) the good until they are paid off. Goods can be reposed if payments are failed to be paid. Deferred Payment Plan- deposit, ‘interest-free period’, E.g. Jem borrowed $200 at $120 per month for two years. He also paid $300 deposit. What was the ... ................
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