You bought a car for $24,000. You paid $2000 down payment. The rest of money will b borrowed from a bank with annual interest rate of 9% compounded continuously. The loan will be pai back with a series of equal end-of-quarter payments for the next 5 years. 

What will be the equal end-of quarter payment?

Answer rating: 100% (QA)

To calculate the equal endofquarter payment for the car loan we need to use th... View the full answer