Compute monthly payment, An individual is considering the

Compute monthly payment

Reference no: EM13693824

An individual is considering the purchase of a used car. Total amount of the car is $10,400 and requires $2,400 as a down payment and the balance need to be paid in 60 equal monthly payments with an effective interest rate of 12% per year compounded monthly. The payments are due at the end of each month. Compute monthly payment

Reference no: EM13693824

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Compute monthly payment : An individual is considering the purchase of a used car. Total amount of the car is $10,400 and requires $2,400 as a down payment and the balance need to be paid in 60 equal monthly payments with an effective interest rate of 12% per year compounded ..

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