Apr motorcycle loan if you need to borrow 8000 to purchase, Financial Management

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Apr motorcycle loan if you need to borrow 8000 to purchase

Suppose Capital One is advertising a 60 -month,5.77%

APR motorcycle loan. If you need to borrow $8,000 to purchase your dream Harley-Davidson, what will be your monthly payment? (Note: Be careful not to round any intermediate steps less than six decimal places.)

Your monthly payment will be $__________.

Assume you graduate from college with $27,000 in student loans. If your interest rate is fixed at 4.60 % APR with monthly compounding and you repay the loans over a 10 -year period, what will be your monthly payment?

Your monthly payment will be $________.

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