Question
Amortization schedule with periodic payments - Moulton Motors is advertising the following deal on a honda civic: Monthly payments of $347.88 for the next 60
Amortization schedule with periodic payments - Moulton Motors is advertising the following deal on a honda civic: "Monthly payments of $347.88 for the next 60 months and this beauty can be yours!" The sticker price of the car is $16,000. If you bought the car, what interest rate would you be paying in both EAR and APR terms? What is the amortization schedule of the first six payments?
- If you bought the car, what monthly interest rate would you be paying?
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Mathematics For Business
Authors: Stanley A Salzman, Charles D Miller, Gary Clendenen
8th Edition
0321357434, 9780321357434
