Question
You are taking a car loan of 100000, for 5 years and monthly payment of 1648, the interest rate is 10.48%, and a final payment
You are taking a car loan of 100000, for 5 years and monthly payment of 1648, the interest rate is 10.48%, and a final payment of 35000 at the end of the loan.
-Calculate all that necessary to help you determine if it is a good loan or not.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To determine if this car loan is a good deal you should calculate the total cost of the loan the annual percentage rate APR and whether the terms are ...
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Step: 2
Step: 3
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
9th Canadian Edition, Volume 2
470964731, 978-0470964736, 978-0470161012
