Assume you are borrowing $15,000.00 to buy a vehicle. The bank is offering 7.5% financing for a
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Question:
Assume you are borrowing $15,000.00 to buy a vehicle. The bank is offering 7.5% financing for a 4year loan.
a. What is the monthly loan payment?
b. How much in total do you end up paying over the four years?
c. How much interest(Borrowing cost) did you end up paying?
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
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