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.A car loan of $16,825 is to be repaid by making payments at the end of each month for 4years. If interest is 5.2% compounded

.A car loan of $16,825 is to be repaid by making payments at the end of each month for 4years. If interest is 5.2% compounded monthly, how much is our monthly car payment?

Enter your answer to the nearest dollar.Do not enter the $sign.Sample input: 245

MATCHING TYPE

2.

  1. A series of equal payments made at constant periodic intervals
  2. An annuity in which the first payment is made at a time later than the end of the first payment interval
  3. An annuity that has no definite termit goes on forever. A bursary or scholarship is an example.
  4. An annuity with payments at the end of the payment interval.
  5. The frequency of payments in this type ofannuity does not match the interest compounding frequency. A five-year fixed mortgage in Ontario with 2.79% interest compounded semi-annually with biweekly payments is an example.
  6. If the annuity has monthly payments, we must always need this type of nominal interest rate in our annuity calculation.
  7. This type of annuityhas payments at the beginning of the payment interval.
  8. An example of a real-life certain annuities is this type ofloan.
  9. An example of a contingent annuity would be a _________ premiums.
  10. If you are asked to find the equivalent cash price, you need to the use______________ formula.

CHOICES IN 1-10

  • CAR
  • INSURANCE
  • GENERAL
  • DUE
  • DEFFERED
  • PRESENT VALUE
  • ANNUITY
  • PERPETUITY
  • ORDINARY
  • MONTHY

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