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PLEASE use the equations i attached. that is vital The Four Key Equations 51 3, ga ment- nuity You need to borrow $5,000 in order
PLEASE use the equations i attached. that is vital
The Four Key Equations 51 3, ga ment- nuity You need to borrow $5,000 in order to purchase a car. The terms of the loan, as advertised by the bank, are 12% APR (annual percentage rate), with equally sized monthly payments, beginning in one month, for a total of four years (forty-eight monthly payments). Determine the size of the monthly payments you must make each month, starting in one month. Make sure you begin by drawing a detailed cash-flow timeline. Parts B, C, and D: After completing Part A, please rework the problem using different values as shown in the table below. Problem 3A is repeated for your convenience. Write your answers in the table below. Problem $ Amt Borrowed att = 0 Length of Loan Interest Rate (APR) Monthly Payment is? $5,000.00 4 years $4,000.00 2 years 1.5 years $30,000.00 3C 3 years 3D $3,600.00 3B 12.0% per year 14.4% per year 9.6% per year 0% per year ANSWERS (3A) $131.67 (3B) $192.81 (3C) $1,796.19 (3D) $100 cha monthly u P = (A) [I (119) VEG Pub tua P- Aon Aon Irr ifrog Step by Step Solution
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