Question
You have decided to buy a car that costs $32,600. Since you do not have a big down payment, the lender offers you a loan
You have decided to buy a car that costs $32,600. Since you do not have a big down payment, the lender offers you a loan with an APR of 6.35 percent compounded monthly for 5 years with the first monthly payment due today. What is the amount of your loan payment?
Multiple Choice
$590.91
$526.99
$635.57
$463.06
$460.62
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The Complete Personal Finance Handbook
Authors: Teri B Clark
1st Edition
160138047X, 978-1601380470
