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Aerotron Electronics has just bought a used delivery truck for $ 1 5 , 0 0 0 . The small business paid $ 1 ,
Aerotron Electronics has just bought a used delivery truck for $ The small business paid $ down and financed the rest,
with the agreement to pay nothing for the entire first year and then to pay $ at the end of each month over and
first payment is in th month
a What nominal interest rate is Aerotron paying on the loan?
b What effective interest rate are they paying?
Round your answer to decimal places for a and The tolerance is
c How much of the th month's payment is interest? How much is principal?
payment interest $
and principal $
d How much of the th month's payment is interest? How much is principal?
payment interest $
and principal $
e How much of the nd month's payment is interest? How much is principal?
payment interest $
and principal $
Round your answers to the nearest whole dollar for ce The tolerance is
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