Question
A man buys a car for $40,000. If the interest rate on the loan is 12%, compounded monthly, and if he wants to make monthly
A man buys a car for $40,000. If the interest rate on the loan is 12%, compounded monthly, and if he wants to make monthly payments of $800 for 60 months, how much must he put down? (Round your answer to the nearest cent.)
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International Financial Management
Authors: Jeff Madura
2nd Edition
0314430296, 978-0314430298
