solution
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compute the size of the first payment of a car loan. More specifically, you’ll borrow $25,141 today at an APR of 11%. There will be a total of 31 equally-sized (g = 0), monthly payments with the first payment due in one month.
B) Let’s rework A (with different numbers), using Excel. More specifically, you’ll borrow $10,563 today at an APR of 8%. There will be a total of 31 equally-sized (g = 0), monthly payments with the first payment due in one month.
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Order Paper NowC) Now let’s redo Problem A, using Excel, with new numbers: Compute the size of the first payment of a car loan.
More specifically, you’ll borrow $11,520 today at an APR of 10%. There will be a total of 60 equally-sized (g = 0), monthly payments with the first payment due immediately.
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