Question
You have just received a loan from your bank for $19,000 and you will use it to buy a car. The interest rate is 6
You have just received a loan from your bank for $19,000 and you will use it to buy a car. The interest rate is 6 percent and the term of the loan is 6 years. You will make 6 equal annual payments over the six years beginning one year from the day you signed the loan. How much is your annual year-end payment?
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Finance Applications and Theory
Authors: Marcia Cornett, Troy Adair
3rd edition
978-0077861681
