Question
You take out a car loan where you pay $478 per month for 36 months. The interest rate charged on the loan is 5.4% compounded
You take out a car loan where you pay $478 per month for 36 months. The interest rate charged on the loan is 5.4% compounded monthly.
Find:
a.) The original amount that you borrowed
b.) The total amount of interest paid over the course of the loan
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Focus On Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Melissa Hart
7th Edition
1265521972, 978-1265521974
