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You are looking to buy a sports car costing $43000. A dealer is offering cash rebate of $6000. if you take the cash rebate from
You are looking to buy a sports car costing $43000. A dealer is offering cash rebate of $6000. if you take the cash rebate from this dealer, you will have to borrow the balance of the purchase price from a local bank at the 4.8% nomial rate with monthly equal payments for 3 years. Fill in the blanks (A) and(B) in the following formula for the calculation of the monthly payment. PMT*(1/(A)+1/(A)^2+...+1/(A)^36)+(B)
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