You have just taken out a 20000 car loan with a 6 apr, Ask an Expert

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You have just taken out a $20,000 car loan with a 6% ?APR, compounded monthly. The loan is for five years. When you make your first payment in one? month, how much of the payment will go toward the principal of the loan and how much will go toward? interest?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92414605

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