Question: Suppose that you decide to borrow $ 1 4 , 0 0 0 for a new car. You can select one of the following loans,

Suppose that you decide to borrow $14,000 for a new car. You can select one of the following loans, each requiring regular monthly payments. Installment Loan A: three-year loan at 5.5%
Installment Loan B: five-year loan at 4.8%
Use PMT =P(rn)[1-(1+rn)-nt] to complete parts (a) through (c) below.
 Suppose that you decide to borrow $14,000 for a new car.

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