Fixed payment loansuppose you plan to purchase a ford, Ask an Expert

Economics

Fixed Payment Loan:

Suppose you plan to purchase a Ford Mustang and need a car finance of $12,000. You take the loan from the K-State Credit Union at 3.5% interest rate. What is the yearly payment to the bank to pay off the loan in 10 years? Please do not just write the answer, show your work and the formula you will be using to calculate the FP)

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91295551

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