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(A) Mr. Mansoor, a graduate bought a new car. The cash price is $ 60,000; he made a S 5,000 down payment on it. The
(A) Mr. Mansoor, a graduate bought a new car. The cash price is $ 60,000; he made a S 5,000 down payment on it. The bank's loan was for 24 months. Finance charges totaled $ 12,000. What was the monthly payment? (B) A Cement factory in KSA bought a new equipment. The cash price of the equipment is $ 45,000, putting down $ 12,000 and financing the remainder with 32 monthly payments of $ 1,190 each. Find the APR by table lookup
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