Question
Investigate the effect of the term on simple interest amortized auto loans by finding the monthly payment and the total interest for a loan of
Investigate the effect of the term on simple interest amortized auto loans by finding the monthly payment and the total interest for a loan of $10,000 at 7 and 7/8% interest if the term is the following. (Round all answers to the nearest cent.)
(a) 3 years.
| Payment | $ |
| Total interest | $ |
(b) 4 years.
| Payment | $ |
| Total interest | $ |
(c) 5 years.
| Payment | $ |
| Total interest | $ |
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Fundamentals Of Investments
Authors: Bradford Jordan, Thomas Miller
4th Edition
0073314978, 9780073314976
