Interest deductions for companies
The sticker price is $15,000 and you have $2,000 to put toward a down payment. If you can negotiate a nominal annual interest rate of 10 percent and you wish to pay for the car over a 5-year period, what are your monthly car payments? a. $216.67. b. $252.34. c. $276.21 * d. $285.78. First, find the monthly interest rate = 0.10/12 = 0.8333%/month. ................
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