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20A) You want to buy a new sports coupe for $69780, and the finance office at the dealership has quoted you a 9.2 percent APR
20A) You want to buy a new sports coupe for $69780, and the finance office at the dealership has quoted you a 9.2 percent APR loan for 63 months to buy the car. What will your monthly payments be?
20B) One of your customers is delinquent on his accounts payable balance. Youve mutually agreed to a repayment schedule of $784 per month. You will charge 1.1 percent per month interest on the overdue balance. If the current balance is $19822, how many months will it take for the account to be paid off?
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