Question
you want to buy a car, and a local bank will lend you $20,000. The loan would be fully amortized over 6 years (72 months),
you want to buy a car, and a local bank will lend you $20,000. The loan would be fully amortized over 6 years (72 months), and the nominal interest rate would be 12% with interest paid monthly. What is the monthly loan payment? What is the loans EFF%?
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Financial Analysts Indispensable Pocket Guide
Authors: Ram Ramesh
1st Edition
0071361561, 978-0071361569
