You purchase a 25000 car by making a down payment of 2000, Financial Accounting

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You purchase a 25000 car by making a down payment of 2000

You purchase a $25,000 car by making a down payment of $2,000 and borrowing the rest from a bank for 5 years at 1/2 % per month compounded monthly. What will be your monthly payments that are due at the end of each month? After making 36 monthly payments, you want to pay off the loan completely. How much would you owe to the bank at that time to pay off the loan?

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Financial Accounting: You purchase a 25000 car by making a down payment of 2000

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Financial Accounting: You purchase a 25000 car by making a down payment of 2000

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