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How much will have to pay to avoid paying finance

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Reference no: EM132736246

Problem 1: NFM has a policy where all purchases can be paid off on the installment plan with no interest, as long the total is paid, in full, within 12 months. There is a $25 minimum monthly payment required. If the Kay's bought a new hot tub for $5238, and they pay only the minimum for the first 11 months, how much will they have to pay to avoid paying finance charges?

Reference no: EM132736246

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