Question
LOAN AMORTIZATION You want to buy a car, and a local bank will lend you $30,000. The loan will be fully amortized over 7 years
LOAN AMORTIZATION You want to buy a car, and a local bank will lend you $30,000. The loan will be fully amortized over 7 years (84 months), and the nominal interest rate will be 6% with interest paid monthly. What will be the monthly loan payment? Round to TWO decimal places.
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Essential Mathematics For Economic Analysis
Authors: Knut Sydsaeter, Peter Hammond
3rd Edition
0273713248, 9780273713241
