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You are thinking about buying a car, and your local bank, will lend you the $35,000 you need for the purchase. Under the terms of
- You are thinking about buying a car, and your local bank, will lend you the $35,000 you need for the purchase. Under the terms of the loan agreement, it will be fully amortized over 4 years The nominal annual interest rate will be 9%, with monthly payments. Over the life of the loan, how much interest will you have paid?
Please work through the calculations
- $41,807
- $21,337
- $12,369
- $6,807
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Business Analysis And Valuation Using Financial Statements Text And Cases
Authors: Krishna G. Palepu, Paul M. Healy, Victor Lewis Bernard, W.Gordon Filby
2nd Edition
0324015658, 9780324015652
