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You are considering buying a new car. The sticker price is $36,000 and you have $8,000 to put towards a down payment (so you borrow
You are considering buying a new car. The sticker price is $36,000 and you have $8,000 to put towards a down payment (so you borrow $28,000). You negotiate an annual interest rate of 5% and you wish to pay for the car over a 4-year period. Assume monthly payments, and set up an amortization schedule (I want to see the first 2 periods of amortization schedule)
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