Question
Rosa bought a car for $20,000. She made a down payment of $4,000 and received a 48-month equal installment loan for the remaining amount at
Rosa bought a car for $20,000. She made a down payment of $4,000 and received a 48-month equal installment loan for the remaining amount at 6 percent APR. How much will be Rosas first payment of the loan? (Assume the installments are paid at the end of each month.) Group of answer choices
$1277.95
$469.70
$333.33
$ 375.76
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Investments
Authors: Zvi Bodie, Alex Kane, Alan J. Marcus
5th Edition
0072339160, 978-0072339161
