9. Shirley Stewart is planning to buy a Toyota hybrid for $18,789 with $1,100 down and plans to finance the car. Citizens’ Financial Bank quoted a finance charge at 8.5% for 48 months; Charter One Bank quoted her a finance charge at 8% for 60 months. a. What would be her monthly payment to Citizens’ Financial Bank? Round your answer to the nearest cent. Monthly payment $ b. What would be her monthly payment to Charter One Bank? Round your answer to the nearest cent. Monthly payment $

9. Shirley Stewart is planning to buy a Toyota hybrid for $18,789 with $1,100 down and plans to finance the car. Citizens’ Financial Bank quoted a finance charge at 8.5% for 48 months; Charter One Bank quoted her a finance charge at 8% for 60 months. a. What would be her monthly payment to Citizens’ Financial Bank? Round your answer to the nearest cent. Monthly payment $ b. What would be her monthly payment to Charter One Bank? Round your answer to the nearest cent. Monthly payment $

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter16: Working Capital Policy And Short-term Financing

Section: Chapter Questions

Problem 14P

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