Question
A $52,500 new car loan is taken out with the terms 9% APR for 60 months. How much are monthly payments on this loan? ________.
A $52,500 new car loan is taken out with the terms 9% APR for 60 months. How much are monthly payments on this loan? ________.
A pottery factory purchases a continuous belt conveyor kiln for $72,000. A 6.0% APR loan with monthly payments is taken out to purchase the kiln. If the monthly payments are $746.43, how many years will it take for this loan to be paid?
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Financial Markets and Institutions
Authors: Jeff Madura
12th edition
9781337515535, 1337099740, 1337515531, 978-1337099745
