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Question: part d and e thank you...

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Part D and E thank you
Youre buying a used car for $8000, but paying $1500 in cash immediately. Youll be borrowing the difference from a local bank. Your first payment to the bank will occur at the end of the 8th month. The last payment will occur at the beginning of the 43rd month. The payments will all be equal in size. The interest rate on the car loan is 0.50% permonth (the equivalent of 600 per year-when annualized as an APR). i.e. Use r-0.50% (per month) in your computations.
of the 4th (fourth) payment! Part D) Now assume that the size of the car payments decrease by 0.50% every month. What is the size of the 9th (ninth) payment? Part E) Now assume that the size of the car payments increase by 0.50% every month. What is the size of the 9th (ninth) payment? As in Problem 1, once again, vou are borrowing $6500 to nurchase a car However, now the first navment
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