Question
Suppose you want to borrow $25,000 for a new car. You can borrow at 8% per year, compounded monthly (8/12 = .66667% per month). If
Suppose you want to borrow $25,000 for a new car. You can borrow at 8% per year, compounded monthly (8/12 = .66667% per month). If you take out a 5-year loan, what is your monthly payment? (Answer to the nearest cent.) How to compute in excel?
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Advanced Accounting
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupni
13th edition
978-1259444951
