Business, 12.11.2020 18:50, skylarwise121

You want to buy a car, and a local bank will lend you $25,000. The loan would be fully amortized over 5 years (60 months), and the nominal interest rate (APR) would be 12%, with interest paid monthly. a. What is the monthly loan payment?b. What will be the loan's EAR?

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You want to buy a car, and a local bank will lend you $25,000. The loan would be fully amortized ove...