The longer a loan schedule lasts, the more interest you will pay. To illustrate a $20,000-car-loan at
Question:
a. Verify that the difference in total interest of $3,024 is correct.
b. Why would you be willing to pay this extra interest?
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Related Book For
Engineering Economy
ISBN: 978-0132554909
15th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
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