Create CASH FLOW DIAGRAM that represents Jim purchase

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Reference no: EM131978749

Jim's 1998 mini-van is functional. He purchased it in 1998 for $11,000 from a bank which required he make a down payment of $2500 at a 3% annual interest rate. Jim decided to take the bank's original offer at 3% interest. He paid for the vehicle once a month each month, paid $250 dollars each year in maintenance costs, and paid the car off in 5 years.

Create a CASH FLOW DIAGRAM that represents Jim’s purchase.

Reference no: EM131978749

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