Question
You wish to buy a $11,000 dining room set. The furniture store offers you a 3-year loan with an 12 percent APR. What are the
| You wish to buy a $11,000 dining room set. The furniture store offers you a 3-year loan with an 12 percent APR. What are the monthly payments?(Do not round intermediate calculations. Round your final answer to 2 decimal places.) |
| Payment | $per month |
| How would the payment differ if you paid interest only?(Do not round intermediate calculations. Round your final answer to 2 decimal places.) |
| Payment | $per month |
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Derivatives Markets
Authors: Robert L. McDonald
2nd Edition
032128030X, 978-0321280305
