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Please detail your answer Finding the Payment - Suppose you want to borrow $20,000 for a new car. You can borrow at 8% per year,
Please detail your answer 
Finding the Payment - Suppose you want to borrow $20,000 for a new car. You can borrow at 8% per year, compounded monthly (8/12=.6667% per month). If you take a 4-year loan, what is your monthly payment when the first payment is due at the end of the month? - 20,000 = PMT[1 1/1.00666748]/.006667 - PMT =488.26 Step by Step Solution
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Principles Of Project Finance
Authors: E.R. Yescombe
1st Edition
0127708510, 978-0127708515
