Question
Assume you are purchasing a Tesla Model S for $99,990 loan with a quoted APR of 5.38% for a five-year loan. Compute the future value
Assume you are purchasing a Tesla Model S for $99,990 loan with a quoted APR of 5.38% for a five-year loan. Compute the future value of this loan (i.e., the total amount you will have paid for the car at the end of the loan including interest) assuming the financial institution compounds the interest:
- annually
- semi-annually
- monthly
- daily
- continuously
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Investing From Scratch A Handbook For The Young Investor
Authors: James Lowell
1st Edition
014303684X, 978-0143036845
