The annual percentage rate apr is 9 compounded monthly and, Ask an Expert

Management Studies

Elin purchased a used car for $10,000. She wrote a check for $2,000 as down payment for the car and financed $8,000 balance. The annual percentage rate (APR) is 9% compounded monthly, and the loan is to be repaid in equal monthly installments over the next four years. Which of the following is most near to Elin&#39;s monthly car payment?

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Operation Management, Management Studies

Category:- Operation Management
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