Mathematics

Mathematics, 01.08.2019 18:00, becksss2714

Suppose that you borrow $17,000 for 3 years at 5% toward the purchase of a car by the monthly payments and the total interest for the amortized loan

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Suppose that you borrow $ 16,000 for a new car. you can select one of the following loans, each requiring regular monthly payments: installment loan a: three-year loan at 5.5% installment loan b: five- year loan at 6.5% find the monthly payments and the total interest for both loan a and loan b. compare the monthly payments and the total interest for the two loans.

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8.6.3 suppose that you decide to borrow $14,000 for a new car. you can select one of the following loans, each requiring regular monthly payments. installment loan a: three-year loan at 5.5% installment loan b: five-year loan at 6.4% a. find the monthly payments and the total interest for loan a. what is the monthly payment for loan a ?

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