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A $20 000 car loan is charged 3.9% per annum interest, compounded quarterly. a) Determine the quarterly payments needed to pay the loan off in
A $20 000 car loan is charged 3.9% per annum interest, compounded quarterly.
a) Determine the quarterly payments needed to pay the loan off in five years.
N = 20
I% = 3.9
PV = 20000
PMT = - 1105.53
FV = 0
P/Y = 4
C/Y = 4
c) How much in interest charges could be saved (compared to part a.) by making weekly payments of $100.00, if interest is charged at 3.9%, compounded weekly
N =
I% =
PV =
PMT =
FV =
P/Y =
C/Y =
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