You're borrowing $6,000 for two years with a stated annual interest rate of 8%. Complete the following
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Question:
You're borrowing $6,000 for two years with a stated annual interest rate of 8%. Complete the following table. (Note: Round your answers to the nearest dollar.)
Principal | $6,000 |
Finance charge | $
|
Total payback | $
|
You will make monthly payments throughout the life of the loan, in this case.
What will your monthly payments be? Round your answer to the nearest cent. $
Related Book For
Quantitative Investment Analysis
ISBN: 978-1119104223
3rd edition
Authors: Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle
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