Question
36) You are borrowing $21,800 to buy a car. The terms of the loan call for monthly payments for five years at 8.25 percent interest.
36) You are borrowing $21,800 to buy a car. The terms of the loan call for monthly payments for five years at 8.25 percent interest. What is the amount of each payment?
A) $401.12
B) $391.40
C) $439.76
D) $387.71
E) $444.64
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Multinational Business Finance
Authors: David K. Eiteman, Arthur I. Stonehill, Michael H. Moffett
11th Edition
0321357965, 978-0321357960
