You are interested in buying a new Sierra 1500 pick-up truck. After all negotiations, the total cost will be $48250. As a down payment, you decide to pay $8250 today and finance the remainder with a 60-month loan at 3.24% APR compounded monthly, with first payment due in 1 month. How much is your fixed monthly loan payment? (rounded

Sep 8, 2023

 

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You are interested in buying a new Sierra 1500 pick-up truck. After all negotiations, the total cost will be $48250. As a down payment, you decide to pay $8250 today and finance the remainder with a 60-month loan at 3.24% APR compounded monthly, with first payment due in 1 month. How much is your fixed monthly loan payment? (rounded
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