Question
you need to borrow $14,000 to buy a car and you determined that monthly payments of $300 is affordable. The University federal credit union offers
you need to borrow $14,000 to buy a car and you determined that monthly payments of $300 is affordable. The University federal credit union offers a 3 year loan at 8% APR, a 4 year loan at 8.5%, or a 5 year loan at 9% APR. A) calculate the monthly payment for each offer. B) which loan best meets your needs? is it the first, second, or third loan? explain?
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Financial Management Principles And Practices
Authors: Timothy J. Gallagher
9th Edition
1954156103, 978-1954156104
