Kris borrows money in her senior year to buy a new car. The car dealership allows her

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Kris borrows money in her senior year to buy a new car. The car dealership allows her to defer payments for 12 months, and Kris makes 36 end-of-month payments thereafter. If the original note (loan) is for $24,000 and interest is 1/2% per month on the unpaid balance, how much will Kris' payments be?
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Engineering Economy

ISBN: 978-0132554909

15th edition

Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

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