A person pays $ 200 per month for 5 years for a car, making no down payment.
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Question:
A person pays $ 200 per month for 5 years for a car, making no down
payment. If the loan cost an interest of 18% per year compounded
monthly on the unpaid balance, what was the cost of the car? How much
interest will he pay?
Related Book For
Federal Tax Research
ISBN: 9781285439396
10th Edition
Authors: Roby Sawyers, William Raabe, Gerald Whittenburg, Steven Gill
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