Question
A $29,000 car is purchased with a five year loan at an annual interest rate of 9%. with monthly payments of $601.99. What are the
A $29,000 car is purchased with a five year loan at an annual interest rate of 9%. with monthly payments of $601.99.
What are the total interest payments over the life of the above loan?
A. $15,733.60
B. $157,336.00
C. $7,119.40
D. $8,000.80
E. None of the above
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Short Term Financial Management
Authors: John Zietlow, Matthew Hill, Terry Maness
5th Edition
1516512405, 9781516512409
