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You wish to buy a $25,500 car. The dealer offers you a 5-year loan with a 9 percent APR. What are the monthly payments? (Do
| You wish to buy a $25,500 car. The dealer offers you a 5-year loan with a 9 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 |
Just double checking on answers: $529.34 monthly. $191.25 only taxes.
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