Question
A recent college graduate buys a new car by borrowing $20,000 at 8.4%, compounded monthly, for 5 years. She decides to pay an extra $14
A recent college graduate buys a new car by borrowing $20,000 at 8.4%, compounded monthly, for 5 years. She decides to pay an extra $14 per payment. How many payments (that include the extra $14) will she make, including the final partial payment?
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Financial Management
Authors: Geoffrey Knott
4th Edition
1403903824, 9781403903822
