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Loan Information: You are purchasing a car for $30,000. You are putting down in cash 10% of the amount of the car purchase. You will
Loan Information: You are purchasing a car for $30,000. You are putting down in cash 10% of the amount of the car purchase. You will take a car loan from the bank for the remaining amount. The bank offers an 8% annual interest rate on your loan. The bank terms allow for the loan to be repaid over 3 years. The terms of the loan require quarter payments (4 payments per year). Calculate the amount of the loan payment. Create an amortization schedule showing the repayment of the loan until the loan is paid off
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