Question
You want to buy a car, and a local bank will lend you $15,000. The loan would be fully amortized over 6 years (72 months),
You want to buy a car, and a local bank will lend you $15,000. The loan would be fully amortized over 6 years (72 months), and the nominal interest rate would be 2.4 percent, with interest paid monthly. What would be the monthly loan payment?
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Corporate Finance A Focused Approach
Authors: Michael C. Ehrhardt, Eugene F. Brigham
4th Edition
1439078084, 978-1439078082
