5) A woman wants to borrow $12,000 to buy a car. She wants to repay the loan by monthly installments
for 4 years. If the interest in the loan is 10.5% per year, compounded monthly, what is the amount of
each payment?

Question

04-12-2022
Mathematics

Answered

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5) A woman wants to borrow $12,000 to buy a car. She wants to repay the loan by monthly installments
for 4 years. If the interest in the loan is 10.5% per year, compounded monthly, what is the amount of
each payment?

Sagot :

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