Question
You are considering purchasing a new automobile that will cost you $28,000. The car dealer offers you financing at an interest rate of 4.9% per
You are considering purchasing a new automobile that will cost you $28,000. The car dealer offers you financing at an interest rate of 4.9% per annum with monthly compounding for 60 months (with payments made at the end of the month). Assuming you finance the entire $28,000 through the dealer, your monthly payments will be closest to:
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Contemporary Engineering Economics
Authors: Chan S. Park
5th edition
136118488, 978-8120342095, 8120342097, 978-0136118480
