You have accepted a loan in an amount of $15,000 for your new car. You have agreed to pay the loan back in four years. What is your monthly payment if you agree to pay an interest rate of 9%...


You have accepted a loan in an amount of $15,000 for your new car. You have agreed to pay the loan back in four years. What is your monthly payment if you agree to pay an interest rate of 9% compounding monthly?  Solve this problem for i = 6%, i = 7%, and i = 8% each compounding monthly.



Jun 08, 2022
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