Suppose Capital One is advertising a 60 month, 5.58% APR motorcycle loan. If you need to borrow $8100 to purchase your dream Harley- Davidson, what will be your monthly payment? (Note: Be careful not to round any intermediate steps less than six decimal places.) I keep typing this into my Ti - nspire but it keeps giving me the incorrect answer and I do not know why. (8100*0.465)/ (1 - (1 + 0.465) ^ - 60)) which I know isn't nthe correct monthly payment...
Suppose Capital One is advertising a 60 month, 5.58% APR motorcycle loan. If you need to borrow $8100 to purchase your dream Harley- Davidson, what will be your monthly payment? (Note: Be careful not to round any intermediate steps less than six decimal places.) I keep typing this into my Ti - nspire but it keeps giving me the incorrect answer and I do not know why. (8100*0.465)/ (1 - (1 + 0.465) ^ - 60)) which I know isn't nthe correct monthly payment...
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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Transcribed Image Text:Suppose Capital One is advertising a
60 month, 5.58% APR motorcycle
loan. If you need to borrow $8100 to
purchase your dream Harley-
Davidson, what will be your monthly
payment? (Note: Be careful not to
round any intermediate steps less
than six decimal places.) I keep
typing this into my Ti - nspire but it
keeps giving me the incorrect answer
and I do not know why.
(8100*0.465)/ (1 - (1 + 0.465) ^ - 60))
which I know isn't nthe correct
monthly payment...
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