Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis....
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Accounting
Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis.
Go to the St. Louis Federal Reserve FRED database, and find data on the interest rate on a four year auto loan (TERMCBAUTO48NS).
FRED.
Assume that you borrow
$27 000
to purchase a new automobile, and finance it with a four year loan at the most recently available interest rate.
For
May, 2018,
the rate on a four year auto loan is
5.05%.
(Enter
your response exactly as it appears on
FRED.)
If you make one payment per year for four years, what would the yearly payment be?
The yearly payment will be a ? payment per year.
(Round
your response to two decimal
places.)
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