Question
You purchased a car using some cash and borrowing $23 comma 00023,000 (the present value) for 5151 months at 1717% per year. Calculate the monthly
You purchased a car using some cash and borrowing
$23 comma 00023,000
(the present value) for
5151
months at
1717%
per year. Calculate the monthly payment (annuity). Then assume you have made ten payments. What is the balance (present value) of your loan?
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Introductory Econometrics For Finance
Authors: Chris Brooks
2nd Edition
052169468X, 9780521694681
