you have 23,000 car loan with 6% apr, compounded monthly. the loan is for five years. when you make your first payment in one month, how much of the payment will go toward the principal of the loan and how much will go toward interest? ( note: be careful not to round an intermediate step less than six) when you make your first payment $____ will go toward the principal of loan and $____ will go toward the interest ( round to the nearest cent)
you have 23,000 car loan with 6% apr, compounded monthly. the loan is for five years. when you make your first payment in one month, how much of the payment will go toward the principal of the loan and how much will go toward interest? ( note: be careful not to round an intermediate step less than six) when you make your first payment $____ will go toward the principal of loan and $____ will go toward the interest ( round to the nearest cent)
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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you have 23,000 car loan with 6% apr, compounded monthly. the loan is for five years. when you make your first payment in one month, how much of the payment will go toward the principal of the loan and how much will go toward interest? ( note: be careful not to round an intermediate step less than six)
when you make your first payment $____ will go toward the principal of loan and $____ will go toward the interest ( round to the nearest cent)
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