Skyler would like to buy their first car and the one they have their eye on is $25,000, plus an extra 13% HST for a total price of $28,250. The dealership has a deal for $0 down payment and charges 7.49% interest, compounded monthly on the loan. Skyler plans to make car loan payments weekly and has accepted the maximum loan repayment period of 8 years. How much will their weekly care loan payment be? [Blank-1] How much will they have paid to the dealership by the time their loan is paid off? [Blank-2] How much interest will be paid? [Blank-3]

Skyler would like to buy their first car and the one they have their eye on is $25,000, plus an extra 13% HST for a total price of $28,250. The dealership has a deal for $0 down payment and charges 7.49% interest, compounded monthly on the loan. Skyler plans to make car loan payments weekly and has accepted the maximum loan repayment period of 8 years. How much will their weekly care loan payment be? [Blank-1] How much will they have paid to the dealership by the time their loan is paid off? [Blank-2] How much interest will be paid? [Blank-3]

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 15P

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