What is the total interest paid to the nearest cent if the car costs $36,915, your down payment is $0, and your credit score is 610 on a 60-month loan with monthly payments? Assume your interest rate is the expected rate.

What is the total interest paid to the nearest cent if the car costs $36,915, your down payment is $0, and your credit score is 610 on a 60-month loan with monthly payments? Assume your interest rate is the expected rate.

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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What is the total interest paid to the nearest cent if the car costs $36,915, your down payment is $0, and your credit score is 610 on a 60-month loan with
monthly payments? Assume your interest rate is the expected rate.

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