Question
Suppose Ming made a down payment of$3,600.00$3,600.00. The loan has an annual interest rate of7.375%7.375% over88years. The purchase price for the car is$14,600.00$14,600.00. Round your
Suppose Ming made a down payment of$3,600.00$3,600.00. The loan has an annual interest rate of7.375%7.375% over88years. The purchase price for the car is$14,600.00$14,600.00. Round your answers to the nearest cent, if needed.
What is the future value of the loan?
What is the total cost of the car?
How much interest will he pay over the life of the loan?
What is the monthly payment?
How much would he save in interest, over the life of the loan, by making the down payment versus not making a down payment?
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Financial Management For Nurse Managers And Executives
Authors: Cheryl Jones, Steven A. Finkler, Christine T. Kovner
4th Edition
1455700886, 9781455700882
