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 $11,000 at 9 7 8 % interest if the term is the following. (Round your answers to the nearest cent.)
(a) three years
payment $
total interest $
(b) four years
payment $
total interest $
(c) five years
payment $
total interest $
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The Economics Of Money Banking And Finance
Authors: Peter Howells, Keith Bain
4th Edition
0273710397, 978-0273710394
