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Assume that you have just bought a car for $16,834.00. The dealer is offering you a 5-year (60- month) loan at a nominal annual
Assume that you have just bought a car for $16,834.00. The dealer is offering you a 5-year (60- month) loan at a nominal annual rate of 9.00 percent, with monthly compounding. Given this information, determine your monthly payment on this car loan. O $347.81 $349.45 $346.19 $351.08 $344.56
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Derivatives Markets
Authors: Rober L. Macdonald
4th edition
321543084, 978-0321543080
