Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Manjean is making car payments of $662 per month for the next 3 years. Manjean knows that the car loan has an interest rate of
11.5%, discounted monthly, what was the initial price of the car?
Note: Final answer round to the nearest whole number. No need put UOM (unit of measure).
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Transcribed Image Text:Manjean is making car payments of $662 per month for the next 3 years. Manjean knows that the car loan has an interest rate of 11.5%, discounted monthly, what was the initial price of the car? Note: Final answer round to the nearest whole number. No need put UOM (unit of measure).
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