You take a loan from a bank to buy a car with a value of 100000 for 5 years (60 months). You pay 10000 at the beginning and 10000 at theend. If the monthly interest rate is 0.9%. How much is the monthly installment?1821,43B) 2390,712490,71

Loans are paid by the monthly payments that carry the payment for interest and payment for loan also…

Answered: You take a loan from a bank to buy a…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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You take a loan from a bank to buy a car with a value of 100000 for 5 years (60 months). You pay 10000 at the beginning and 10000 end. If the monthly interest rate is 0.9%. How much is the monthly installment? A 1821,43 2390,71 2490,71