Derek borrows $38,457.00 to buy a car. He will make monthly payments for 6 years. The car loan has an interest rate of 5.06%. After a 10.00 months Derek decides to pay off his car loan. How much must be give the bank? Submit Answer format: Currency Round to 2 decimal places
Derek borrows $38,457.00 to buy a car. He will make monthly payments for 6 years. The car loan has an interest rate of 5.06%. After a 10.00 months Derek decides to pay off his car loan. How much must be give the bank? Submit Answer format: Currency Round to 2 decimal places
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
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Transcribed Image Text:Derek borrows $38,457.00 to buy a car. He will make monthly payments for 6 years. The car loan has an interest rate of
5.06%. After a 10.00 months Derek decides to pay off his car loan. How much must he give the bank?
Submit
Answer format: Currency: Round to 2 decimal places...
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