How much is the monthly payment amount

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Reference no: EM132065625

You want to borrow 40,000 to buy a landcruiser. The APR is 12% coumpounded monthly. The bank wants you to pay equal amounts every period over the next four years. The loan ill be fullly paid when the ast payment is made. How much is the monthly payment amount for the next 48 payments?

Reference no: EM132065625

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How much is the monthly payment amount : You want to borrow 40,000 to buy a landcruiser. How much is the monthly payment amount for the next 48 payments?

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