In april 2010 the interest rate on 36 month used car loans, Ask an Expert

Finance

In April 2010, the interest rate on 36 month used car loans was 5.74% suppose you have a contract to a buy a used car for $8000.

(A) if a bank will lend you $8000 at 5.74% simple rate of interest for 36 months, how much interest will be charged?

(B) what is the total amount of the loan?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92304426

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