You have borrowed 70000 to buy a sports car you plan to, Ask an Expert

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You have borrowed $70,000 to buy a sports car. You plan to make monthly payments over a 15-year period. The bank has offered you a 9% interest rate compounded monthly. Calculate the total amount of interest dollars you will pay the bank over the life of the loan. Round to the nearest dollar and assume end-of-month payments.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92745369

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