Question
Kelly is planning to purchase a car for $20,000. She has $2,000 for down payment. The car dealer offers the remaining $18,000 car loan under
Kelly is planning to purchase a car for $20,000. She has $2,000 for down payment. The car dealer offers the remaining $18,000 car loan under the following terms: A 3-year loan with monthly repayments and a stated annual interest rate of 12%. What will be Kellys monthly loan repayment amount if she strictly adheres to the terms of the loan?
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Local Public Finance
Authors: René Geissler, Gerhard Hammerschmid, Christian Raffer
1st Edition
3030674681, 978-3030674687
