You would like to purchase a car with a negotiated price of $39,000, and the dealer offers financing over a 4-year period at 6%. If repayments are to be made monthly, at the end of each month, what would be the monthly payments? Calculate using (a) financial calculator or (b) Excel function PV. (Round answer to 2 decimal places, e.g. 52.75. Round interest rate per month to 4 decimal places, e.g. 1.2597%.) Monthly payments $
You would like to purchase a car with a negotiated price of $39,000, and the dealer offers financing over a 4-year period at 6%. If repayments are to be made monthly, at the end of each month, what would be the monthly payments? Calculate using (a) financial calculator or (b) Excel function PV. (Round answer to 2 decimal places, e.g. 52.75. Round interest rate per month to 4 decimal places, e.g. 1.2597%.) Monthly payments $
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
Section: Chapter Questions
Problem 1PS
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pls answer the following question.
Transcribed Image Text:You would like to purchase a car with a negotiated price of $39,000, and the dealer offers financing over a 4-year period at 6%. If
repayments are to be made monthly, at the end of each month, what would be the monthly payments? Calculate using (a) financial
calculator or (b) Excel function PV. (Round answer to 2 decimal places, e.g. 52.75. Round interest rate per month to 4 decimal places, e.g.
1.2597%.)
Monthly payments
$
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