Solution-Find the exra amount to be paid in 20th month

Find the exra amount to be paid in 20th month

Reference no: EM132364830

The purchase of a car requires a $20,245 loan to be repaid in monthly installments for four years at 12% annual real interest rate. If annual inflation rate is 2%, find the exra amount to be paid in 20th month due to inflation.

Reference no: EM132364830

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Find the exra amount to be paid in 20th month

Reference no: EM132364830

Reference no: EM132364830

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