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I need help pls Compute the monthly payments for a vehicle that costs $16,200 if you financed the entire purchase over 4 years at an
I need help pls
Compute the monthly payments for a vehicle that costs $16,200 if you financed the entire purchase over 4 years at an annual interest rate of 8.00 percent. Also, calculate the loan payments assuming rat of 7.00 percent and 9.00 percent. Compare the total amount spent on the vehicle under each assumption. Note: Round intermediate computations to at least five (5) decimal places. Click on the table icon to view the Monthly Installment Loan Payment Factor (MILPF) table: The monthly payments for a vehicle that costs $16,200 if you financed the entire purchase over 4 years at an annual interest rate of 8.00% is $395.49. (Round to the nearest cent) The total amount spent on the vehicle if financed for 4 years at an annual rate of 8.00% is : (Round to the nearest cent.)Step by Step Solution
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