You are interested in purchasing a from the car dealer .the advertised price is $25000. the dealer offers financing at the rate of 18% APR compounded monthly when the purchase is financed for 48months. if you make a 20% down payment , what would the monthly payment be for this purchase ? Draw the cash flow diagram please

You are interested in purchasing a from the car dealer .the advertised price is $25000. the dealer offers financing at the rate of 18% APR compounded monthly when the purchase is financed for 48months. if you make a 20% down payment , what would the monthly payment be for this purchase ? Draw the cash flow diagram please

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter16: Working Capital Policy And Short-term Financing

Section: Chapter Questions

Problem 14P

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