Question
You want to buy a car with a price of $ 250,000 pesos. To do this, you request a loan for the total amount of
You want to buy a car with a price of $ 250,000 pesos. To do this, you request a loan for the total amount of the vehicle, for a term of four years, with an interest rate of 0.4% per month. As they are preferred clients of the bank, no commission is charged. The form of payment is monthly and, if all the monthly payments are equal, determine the following:
Scenario 2. You will make a single capital contribution of $ 80,000 at t = 30.
c) For each scenario, determine the new difference equation including the effect of the contribution and solve it. (Hint. The effect of each contribution is observed from the month in which it is made. Hint 2. Consider that in scenario 1, the second contribution is on the new equation after the first contribution)
d) What happens to the final term of the debt in each scenario?
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