Question
You want to buy a car, and a local bank will lend you $25,000. The loan would be fully amortized over 5 years (60 months),
You want to buy a car, and a local bank will lend you $25,000. The loan would be fully amortized over 5 years (60 months), and the nominal interest rate (APR) would be 12%, with interest paid monthly. What is the monthly loan payment?
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Financial Risk Management For Dummies
Authors: Aaron Brown
1st Edition
978-1119082200
