Question
You are considering the purchase of a BMW M5. You will borrow the money from BMW Financial Services. The terms of the deal are outlined
You are considering the purchase of a BMW M5. You will borrow the money from BMW Financial Services.
The terms of the deal are outlined below:
BMW M5
RWD, 500hp, 0-100 in 4.7s
MSRP = $80,000
Term = 48 months
APR = 4.5%
Down Payment = $0
Monthly Payments = $1,824.28 T
he amortized loan payments are a blend of interest and principal. What is the total amount of interest you would pay over the life of the loan? Assume that taxes are zero.
What is the total amount of interest you would pay over the life of the loan? $___(Round to the nearest dollar.)
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Financial Management Theory And Practice
Authors: Prasanna Chandra
8th Edition
0071078401, 978-0071078405
