Question
7) You take out a loan for $18,000 to buy a car that has equal nominal monthly payments over the next five years. The real
7) You take out a loan for $18,000 to buy a car that has equal nominal monthly payments over the next five years. The real annual rate of return on the loan is 2%, and the inflation rate is 3%. What will the monthly payments be?
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The Ascendancy Of Finance
Authors: Joseph Vogl, Simon Garnett
1st Edition
1509509305, 978-1509509300
