What is his equity at the end of year three

Reference no: EM13290812

Armando is buying a car that costs $30,000.00 He is using a 10% down payment, and financing the remainder at 6.9% interest for 7 years. The car value drops 30% the first year, and 20% each year after that

What is his equity at the end of year three?

Reference no: EM13290812

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