Question
Joy is purchasing a car and took a $10,000 loan as part of the payment. The 5-year loan has a 12% nominal interest rate and
Joy is purchasing a car and took a $10,000 loan as part of the payment. The 5-year loan has a 12% nominal interest rate and calls for monthly payments. What is the dollar amount of each payment? Round your answer to the nearest cent.
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Business Forecasting
Authors: John E. Hanke, Dean Wichern
9th edition
132301202, 978-0132301206
