You wish to buy a $25,000 car. The dealer offers you a 4-year loan with a 9 percent APR. What are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.) How would the payment differ if you paid interest only? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
You wish to buy a $25,000 car. The dealer offers you a 4-year loan with a 9 percent APR. What are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
How would the payment differ if you paid interest only? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
Borrowings are the loans taken from banks or non-banking financial institutions, to meet its financial requirements of the company. The borrower needs to pay interest on the borrowings. The borrower can pay interest at regular intervals or at the time of making payment. The payment terms are set by the borrower and the lender.
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