Question
Paul is buying a new boat for $ 15,000 . He makes a $ 2,000 down payment and the dealer gives him anadd-on loan, charging
Paul is buying a new boat for $15,000. He makes a $2,000 down payment and the dealer gives him anadd-on loan, charging him an annual interest rate of 8.6%. If he takes out a 4-year loan, what willPaul's monthly paymentsbe?
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Case Studies in Finance Managing for Corporate Value Creation
Authors: Robert F. Bruner, Kenneth Eades, Michael Schill
7th edition
007786171X, 77861711, 978-0077861711
