Question
You want to buy a car, and a local bank will lend you $30,00. the loan will be fully amortized over 5 years (60 months),
You want to buy a car, and a local bank will lend you $30,00. the loan will be fully amortized over 5 years (60 months), and the nominal interest rate willbe 10% with interest paid monthly. what will be the monthly loan payment? what will be the loan's EAR?
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Handbook Of Financial Econometrics
Authors: Yacine Ait-Sahalia, Lars Peter Hansen
1st Edition
044450897X, 978-0444508973
