Solution-What is the amount of the monthly payments

What is the amount of the monthly payments

Reference no: EM131388347

A commercial bank will loan you $32,987 for 8 years to buy a car. The loan must be repaid in equal monthly payments at the end of the month. The annual interest rate on the loan is 9.80 percent of the unpaid balance. What is the amount of the monthly payments?

Round the answer to two decimal places.

Reference no: EM131388347

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What is the amount of the monthly payments : A commercial bank will loan you $32,987 for 8 years to buy a car. The loan must be repaid in equal monthly payments at the end of the month. The annual interest rate on the loan is 9.80 percent of the unpaid balance. What is the amount of the mont..

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What is the amount of the monthly payments

Reference no: EM131388347

Reference no: EM131388347

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