Question
You bought a $42,000 car. The 5-year loan has an APR of 5.7% (with monthly compounding). a. What is the monthly payment on the loan?
You bought a $42,000 car. The 5-year loan has an APR of 5.7% (with monthly compounding).
a. What is the monthly payment on the loan?
b. You have just made your 15th payment. What is the outstanding balance on the loan? Think about the present value of the remaining payments.
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Practical Audit Quality Improvement Ensuring Effective Performance Of Internal Audit Functions
Authors: Joyce Gacheru
1st Edition
6138950577, 978-6138950578
