Question
You would like to purchase a car that costs $29,000. You have decided to finance the car with a five-year car loan. If the APR
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You would like to purchase a car that costs $29,000. You have decided to finance the car with a five-year car loan. If the APR (annual percentage rate) is 3 percent, compute your monthly payment.
Interest=Total interest paid over life of the loan
Principal=Loan amount
n=Number of days in loan term
$29,000 = C[1 1 / 1.25^60] / .25
Monthly payment 521.09$ Interest $2,265.52
can you verify the math ?
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The Little Book Of Common Sense Investing The Only Way To Guarantee Your Fair Share Of Stock Market Returns
Authors: John C. Bogle
1st Edition
1119404509, 978-1119404507
