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Given the following information regarding the purchase of a car: Price of the car is $26000 It will be purchased by paying $2000 down and
Given the following information regarding the purchase of a car:
- Price of the car is $26000
- It will be purchased by paying $2000 down and then equal monthly payments
- for the period 3 years
- at interest rate of j12 = 4.8% (compounded monthly).
Find the outstanding principle of debt after paying the third monthly payment?
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Guide To Finance Theory And Application Portfolio Mathematics
Authors: Professional Risk Managers' International Association (PRMIA)
1st Edition
0071731814
