Car dealership allows her to defer payments

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Reference no: EM131000435

Kris borrows some money in her senior year to buy a new car. The car dealership allows her to defer payments for 12 months, and Kris makes 48 end-of-month payments thereafter. If the original note (loan) is for $28,000 and interest in 0.5% per month on the unpaid balance, how much will Kris' payment be?

Reference no: EM131000435

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