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Spike buys a car from John's Auto Mart for $5000. He finances the car from the dealer and agrees to make payments of $180 per month for 3 years. What is the yield to maturity on this fixed payment loan?
Hint: Use the rate function in excel, a financial calculator or an online calculator to solve this problem.
Please tell me how to get the PV, FV, PMT in this question? Thanks a lot
(PS: Rate Function=(nper, pmt, pv, fv)*n )
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