You are buying a car, and have settled on a price of $22,678.95. You put $2,678.95 down
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You are buying a car, and have settled on a price of $22,678.95. You put $2,678.95 down and borrow the rest at an 8.5% APR, compounded monthly for 48 months. This requires a monthly payment of $492.97. If you decide to pay off the loan in full with a lump sum after 25 payments, how much will you need to give the dealer?
You receive a regular quarterly bonus of $800 at work, and deposit it in a bank account with interest of 12%, compounded monthly. How much money will you have in your bank account after 3 years?
Related Book For
Microeconomics Theory and Applications with Calculus
ISBN: 978-0133019933
3rd edition
Authors: Jeffrey M. Perloff
Posted Date: