Sara brought car and made the down payment of $50,000, took the loan for remaining balance of

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Sara brought car and made the down payment of $50,000, took the loan for remaining balance of $360,000 , monthly payment for 20 years. Interest rate compounded semi annually 10%.

A. Find the monthly payment.

B. If interest rate changed from 10% semi annual to 9% compounded monthly after end of year 6, what is new monthly payment after end of 6 years.

Related Book For answer-question

Engineering Economic Analysis

ISBN: 9780195168075

9th Edition

Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle

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Posted Date: Feb 03, 2023 04:57 AM

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Sara brought car and made the down payment of $50,000, took the loan for remaining balance of

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Given Down Payment 50000 Remaining balance 360000 Time no year interest Rate 10 T... View the full answer

Engineering Economic Analysis

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