What is the monthly payment on this loan

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Reference no: EM13921185

You have just borrowed $6372.90 to finance the purchase of a used car. The nominal annual interest rate is 12 percent. You have agreed to repay the loan over a two year period making monthly payments. What is the monthly payment on this loan?

Reference no: EM13921185

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What is the monthly payment on this loan : You have just borrowed $6372.90 to finance the purchase of a used car. The nominal annual interest rate is 12 percent. You have agreed to repay the loan over a two year period making monthly payments. What is the monthly payment on this loan?

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