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In April 2010, the interest rate on 36 month used car loans was 5.74% suppose you have a contract to a buy a used car
In April 2010, the interest rate on 36 month used car loans was 5.74% suppose you have a contract to a buy a used car for $8000. (A) if a bank will lend you $8000 at 5.74% simple rate of interest for 36 months, how much interest will be charged?
(B) what is the total amount of the loan?
(C) what is the monthly payment due?
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Multinational Finance
Authors: Kirt C. Butler
3rd Edition
0324177453, 978-0324177459
