Amortization schedule with periodic payments.
Moulton Motors is advertising the following deal on a new Honda? Civic: "Monthly payments of $364.98 for the next 60months and this beauty can be? yours!" The sticker price of the car is $18,000. If you bought the? car, what interest rate would you be paying in both APR and EAR?terms?
1) What is the amortization schedule of the first six? payments?
2) If you bought the? car, what monthly interest rate would you be? paying?