Assume that your hotel decided to purchase a new limo which is selling for $85,000 today. Your hotel will make a monthly payment for the next 5 years, with an annual interest rate of 3%. What will be the amount of your hotel's monthly car loan payment ($)? Note: Do not include $ or commas when you type your answer. Round your answer to two decimal places. If your answer is a negative number, do NOT include a negative sign.

Assume that your hotel decided to purchase a new limo which is selling for $85,000 today. Your hotel will make a monthly payment for the next 5 years, with an annual interest rate of 3%. What will be the amount of your hotel's monthly car loan payment ($)? Note: Do not include $ or commas when you type your answer. Round your answer to two decimal places. If your answer is a negative number, do NOT include a negative sign.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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