Question
Two years ago you purchased a new SUV. You financed your SUV for 60 months (with payments made at the end of the month) with
Two years ago you purchased a new SUV. You financed your SUV for 60 months (with payments made at the end of the month) with a loan at 5.9% APR. You monthly payments are $617.16 and you have just made your 24th monthly payment on your SUV.
The amount of your original loan is closest to:
| 1. | $32,000 | |
| 2. | $37,020 | |
| 3. | $14,808 | |
| 4. | $22,212 |
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Fundamentals of Investments Valuation and Management
Authors: Bradford D. Jordan, Thomas W. Miller
5th edition
978-007728329, 9780073382357, 0077283295, 73382353, 978-0077283292
