A $33,000 new car loan is taken out with the terms 3% APR for 48 months. How much are monthly payments on this loan?A. $876.52B. $803.48C. $730.43D. $949.56

Car loan = 33000 APR = 3% APR per month = 3%/12= 0.25% Total Months= 48 PMT find out: Option C)…

Answered: A $33,000 new car loan is taken out…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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A $33,000 new car loan is taken out with the terms 3% APR for 48 months. How much are monthly payments on this loan? A. $876.52 B. $803.48 C. $730.43 D. $949.56