Question
4. After graduation you decide to buy your first car. You decide you want to get a Kia because it has a 10 year/100,000
4. After graduation you decide to buy your first car. You decide you want to get a Kia because it has a 10 year/100,000 mile warranty. You buy a 2019 Kia Sorrento EX for $35,000 and finance the vehicle through Indiana University Credit Union (IUCU). Today's new car loans are 4.29%. a. (2 points) If you finance this car for 66 months, what is your monthly payment? b. (3 points) Create an amortization table showing monthly payment, monthly interest and monthly principle paid. After the first year (12 months), how much interest have you paid?
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a To calculate the monthly payment for financing a car we can use the formula for a fixedrate loan M...
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Fundamentals of Investing
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
12th edition
978-0133075403, 133075354, 9780133423938, 133075400, 013342393X, 978-0133075359
