You are looking at buying a car. You negotiate the price of the car down to $16,000.
Fantastic news! We've Found the answer you've been seeking!
Question:
You are looking at buying a car. You negotiate the price of the car down to $16,000. You have $6,000 in cash, so you’ll borrow $10,000 to purchase the car. The dealer offers you a loan that has an APR of 4%, compounded monthly, with monthly payments starting next month and lasting 5 years. What would be the monthly payment?
Related Book For
Database management systems
ISBN: 978-0072465631
3rd edition
Authors: Raghu Ramakrishan, Johannes Gehrke, Scott Selikoff
Posted Date: