Suppose that you borrow $30,000 for four years at8% for the purchase of a car. Find the monthlypayments and the total interest for the loan.Round answers to the nearest dollar.1. Monthly payments.2. The total interest for the loan.

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Answered: Suppose that you borrow $30,000 for…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Use PMT = . Round to the nearest dollar. Suppose that you borrow $10,000 for four years at 7% toward the purchase of a car. Find the monthly payments and the total interest for the loan. A.$281; $13,488 B.$239; $1472 C.$624; $19,952 D.$239; $11,472
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Suppose that you borrow $30,000 for four years at 8% for the purchase of a car. Find the monthly payments and the total interest for the loan. Round answers to the nearest dollar. 1. Monthly payments. 2. The total interest for the loan.