Hadeel borrows money in the senior year to buy a new car. The car dealership allows to defer payments for 12 months, and Hadeel makes 36 end of month payments thereafter. If the original loan is $24,000 and interest rate is 0.5% per month on the unpaid balance, how much will Hadeel payments be? $698.80 $774.62 $620.65 $700.56
Hadeel borrows money in the senior year to buy a new car. The car dealership allows to defer payments for 12 months, and Hadeel makes 36 end of month payments thereafter. If the original loan is $24,000 and interest rate is 0.5% per month on the unpaid balance, how much will Hadeel payments be? $698.80 $774.62 $620.65 $700.56
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Hadeel borrows money in the senior year to buy a new car. The car dealership allows to defer payments for 12 months, and Hadeel makes 36 end of month payments thereafter. If the original loan is $24,000 and interest rate is 0.5% per month on the unpaid balance, how much will Hadeel payments be?
- $698.80
- $774.62
- $620.65
- $700.56
detailed answer without usage of excel
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