Calculating Loan Payments you want to buy a new sports coupe for $61,800 and the finance office
Question:
Calculating Loan Payments you want to buy a new sports coupe for $61,800 and the finance office at the dealership has quoted you a 7.4 percent APR loan for 60 months to buy the car. What will your monthly payments be? What is the effective annual rate on this loan?
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We first need to find the annuity payment We have the PVA the lengt...View the full answer
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Related Book For 
Fundamentals of Corporate Finance
ISBN: 978-0077861629
8th Edition
Authors: Stephen A. Ross, Randolph W. Westerfield, Bradford D.Jordan
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