You purchased a car using some cash and borrowing $15,000 (the present value) for 50 months at

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You purchased a car using some cash and borrowing $15,000 (the present value) for 50 months at 12% per year. Calculate the monthly payment (annuity).

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Fundamentals of Investing

ISBN: 978-0133075359

12th edition

Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk

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Question Posted: Apr 28, 2015 03:33 AM

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You purchased a car using some cash and borrowing $15,000 (the present value) for 50 months at

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Fundamentals of Investing

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