2. Visit the website for Interest.com at http://auto-loan .interest.com/index.asp. There you will fi nd an auto loan

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2. Visit the website for Interest.com at http://auto-loan

.interest.com/index.asp. There you will fi nd an auto loan calculator that determines the monthly payment for any declining-balance loan given a specifi ed time period, interest rate, and loan amount. Assume you wish to borrow $12,000 to buy a car. Vary the time period and interest rate of the loan to see how these variations aff ect your monthly payment.

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Personal Finance

ISBN: 9781439039021

10th Edition

Authors: E Thomas Garman, Raymond E Forgue

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