Question: Problem 5 - 2 3 Loan Payments ( LG 5 - 9 ) You wish to buy a $ 2 9 , 5 0 0

Problem 5-23 Loan Payments (LG5-9)
You wish to buy a $29,500 car. The dealer offers you a 4-year loan with a 10.8 percent APR. What are the monthly payments?
How would the payment differ if you paid interest only?
Note: Do not round intermediate calculations and round your final answers to 2 decimal places.
\table[[Monthly payment,],[Interest only payment,]]
Problem 5-23 Loan Payments (LG5-9) You wish to buy a $29,500

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