Question: I need step by step solution. Thanks Assume a car loan amount of $100,000, with annual interest rate 6% and 5 years term. 1. Calculate

I need step by step solution. Thanks

I need step by step solution. Thanks Assume a car loan amount

Assume a car loan amount of $100,000, with annual interest rate 6% and 5 years term. 1. Calculate annual payment amount 2. Calculate monthly payment amount 3. Is it better off to pay a loan monthly or annually? Why? Prepare a 60 month loan amortization schedule How much is your total interest payment

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