Question
Ursula wants to buy a $25,000 used car. She has savings of $2,000 plus an $800 trade-in. She wants her monthly payments to be about
Ursula wants to buy a $25,000 used car. She has savings of $2,000 plus an $800 trade-in. She wants her monthly payments to be about $395. Which of the following loans offers monthly payments closest to $395?
| 8.5% APR for 60 months | ||
| 8.5% APR for 72 months | ||
| 8.5% APR for 48 months | ||
| 8.5% APR for 24 months |
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Case Studies In Finance
Authors: Robert Bruner, Kenneth Eades, Michael Schill
6th Edition
0073382450, 978-0073382456
