A family bought a car for 40,000. They made a down payment of 8,000. They take...
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A family bought a car for 40,000. They made a down payment of 8,000. They take out a 5-year auto loan for $32,000 at an annual interest rate of 4%. Find the total payment when the loan is amortized over 5 years. A family bought a car for 40,000. They made a down payment of 8,000. They take out a 5-year auto loan for $32,000 at an annual interest rate of 4%. Find the total payment when the loan is amortized over 5 years.
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