Jonathan wishes to buy a used chevy malibu for $12,500. He only has $1,000 for a down payment so th ebest deal he can get on a loan is 9% for 48 months a.) what will his payments be? b.)What is the total interest over the life of the loan?

Essentials Of Investments
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ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Jonathan wishes to buy a used chevy malibu for $12,500. He only has $1,000 for a down payment so th ebest deal he can get on a loan is 9% for 48 months

a.) what will his payments be?

b.)What is the total interest over the life of the loan?

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