You are taking out a car loan and will make payments of $400 each month, for a

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You are taking out a car loan and will make payments of $400 each month, for a total of 60 monthly payments. You also have $6500 for a down payment. The APR is 10.8% with quarterly compounding. How much does the car cost?

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Fundamentals of Engineering Economics

ISBN: 978-0132775427

3rd edition

Authors: Chan S. Park

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Posted Date: Jan 07, 2021 03:40 AM

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You are taking out a car loan and will make payments of $400 each month, for a

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The Annual Percentage Rate APR is 108 compounded quar... View the full answer

Fundamentals of Engineering Economics

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