You want to buy a car, and a local bank will lend you $25,000. The loan...
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You want to buy a car, and a local bank will lend you $25,000. The loan would be fully amortized over 4 years (48 months), and the nominal interest rate would be 9%, with interest paid monthly. What is the monthly loan payment? Do not round intermediate calculations. Round your answer to the nearest cent. $ What is the loan's EFF%7 Do not round intermediate calculations. Round your answer to two decimal places. You want to buy a car, and a local bank will lend you $25,000. The loan would be fully amortized over 4 years (48 months), and the nominal interest rate would be 9%, with interest paid monthly. What is the monthly loan payment? Do not round intermediate calculations. Round your answer to the nearest cent. $ What is the loan's EFF%7 Do not round intermediate calculations. Round your answer to two decimal places.
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Monthly payment Here 1 Interest rate per annum 2 Number of ye... View the full answer
Related Book For
Corporate Finance A Focused Approach
ISBN: 978-1439078082
4th Edition
Authors: Michael C. Ehrhardt, Eugene F. Brigham
Posted Date:
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