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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.
- A series of equal payments made at constant periodic intervals
- An annuity in which the first payment is made at a time later than the end of the first payment interval
- An annuity that has no definite termit goes on forever. A bursary or scholarship is an example.
- An annuity with payments at the end of the payment interval.
- 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.
- If the annuity has monthly payments, we must always need this type of nominal interest rate in our annuity calculation.
- This type of annuityhas payments at the beginning of the payment interval.
- An example of a real-life certain annuities is this type ofloan.
- An example of a contingent annuity would be a _________ premiums.
- 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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