Question
You take out a car loan for 31,230 dollars. If your loan has an annual interest rate of 7.38 percent, and you will make monthly
You take out a car loan for 31,230 dollars. If your loan has an annual interest rate of 7.38 percent, and you will make monthly payments for 5 years, how much of your first payment will go towards principal (go towards paying down the outstanding loan balance)?
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Quantitative Investment Analysis
Authors: Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle
3rd edition
111910422X, 978-1119104544, 1119104548, 978-1119104223
