Find out the amount of loan payment, Finance Basics

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Find out the amount of loan payment

Problem:

You are buying a previously owned car today at a price of $4,950. You are paying $750 down in cash and financing the balance for 42 months at 8.45%.

Required

Question 1: What is the amount of each loan payment?

Note: Please provide equation and explain comprehensively and give step by step solution.

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Finance Basics: Find out the amount of loan payment

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Finance Basics: Find out the amount of loan payment

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Recent Questions Asked Finance Basics

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Ask an Expert for Answer!!

Finance Basics: Find out the amount of loan payment

Reference No:- TGS0879502

Recent Questions Asked Finance Basics

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