What will the present value p of the loan be when repayment


A customer wants to take a out a 5-year loan for a new car that costs $30,000. If they make monthly payments for a 5% interest rate, when will the payback period be? What will the present value P of the loan be when repayment to the bank is included?

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Financial Management: What will the present value p of the loan be when repayment
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