Business, 22.04.2021 01:20 desiwill01

14. You plan to buy a car that has a total "drive-out" cost of K25,700. You will make a down payment of K3,598. The remainder of the car's cost will be financed over a
period of 5 years. You will repay the loan by making equal monthly payments. Your
quoted annual interest rate is 8% with monthly compounding of interest. (The first
payment will be due one month after the purchase date.) What will your monthly
payment be?

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14. You plan to buy a car that has a total "drive-out" cost of K25,700. You will make a down payme...

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