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Do an excel proccedure You have decided to apply for a bank loan to buy a car, the seller offers you an effective rate of
Do an excel proccedure
You have decided to apply for a bank loan to buy a car, the seller offers you an effective rate of 12% per year and a payment period of 4 years; the amount of the credit is $ 145,000 and you decide to repay it in uniform payments. (the same amount year to year).
How much INTEREST (debt service) did you pay in the 4th year of credit?
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