l take out a 3-year loan at 3.75% interest.                 N=                                                        FV= I%=                                                       P/Y=  PV=                                                       C/Y=                 PMT=                                                     End or Begin What is the total amount that Erin will pay over the life of the loan?

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Erin can’t decide whether she wants to buy and car or lease a car. She is looking at a $45,000 car. If she buys it, she will take out a 3-year loan at 3.75% interest.

                N=                                                        FV=

I%=                                                       P/Y= 

PV=                                                       C/Y=

                PMT=                                                     End or Begin

What is the total amount that Erin will pay over the life of the loan?

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