How much will your monthly loan payment be

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Reference no: EM133014138

You've just taken out a 6-year loan for $18,000 to purchase a car. Your car loan carries a 6.5% interest rate and requires payments at the end of every month.

a) How much will your monthly loan payment be?

b) How much interest is in included in that very first monthly loan payment?

Reference no: EM133014138

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