Question
You buy a new car, and the loan is for $10,000 to be repaid over three years in monthly instalments at 12% APR compounded monthly.
You buy a new car, and the loan is for $10,000 to be repaid over three years in monthly instalments at 12% APR compounded monthly.
How much will the monthly payments be? How much will be paid in interest?
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Project Financing Financial Instruments And Risk Management
Authors: Frank J Fabozzi, Carmel De Nahlik
1st Edition
9811231494, 9789811231490
