Suppose that you borrow $15

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section: Chapter Questions
Problem 14PTTS
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Question
Suppose that you borrow $11,000 for four years at 5% toward the purchase of a car. Use PMT=
find the monthly payments and the total interest for the loan.
The monthly payment is $
(Do not round until the final answer. Then round to the nearest cent as needed.)
1-
P
1+
nt
to
Transcribed Image Text:Suppose that you borrow $11,000 for four years at 5% toward the purchase of a car. Use PMT= find the monthly payments and the total interest for the loan. The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.) 1- P 1+ nt to
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