You borrow $15411 to buy a car. You will have to repay this loan by...

50.1K

Verified Solution

Question

Finance

You borrow $15411 to buy a car. You will have to repay this loan by making equal monthly payments for 12 years. The bank quoted an APR of 18%. How much is your monthly payment

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students