Question
You are taking out a car loan and will make payments of $491 each month (beginning one month from today), for a total of 60
You are taking out a car loan and will make payments of $491 each month (beginning one month from today), for a total of 60 monthly payments.If the interest rate on the loan is 1.2% (the effective monthly rate on this loan), how much are you borrowing to buy the car?
Donotround any intermediate work.Round yourfinalanswer to 2 decimal places
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Financial and Management Accounting
Authors: Pauline Weetman
7th edition
1292086599, 978-1292086590
