The local BMW dealer offers to sell you the new 7 series vehicle for 60 monthly payments
Fantastic news! We've Found the answer you've been seeking!
Question:
The local BMW dealer offers to sell you the new 7 series vehicle for 60 monthly payments of $735 (first payment 30 days from now). Given your FICO credit rating of 555 the BMW credit manager states the interest rate on this loan will be 6.5% per annum or .5416% monthly. At the time you sign the loan documents what "value" are you paying for the BMW?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: