Schweser Printable Tests - Level 1 - EXAM 1 Morning - 180 ...

Sarah Parker is buying a new $25,000 car. Her trade-in is worth $5,000 so she needs to borrow $20,000. The loan will be paid in 48 monthly installments and the annual interest rate on the loan is 7.5%. If the first payment is due at the end of the first month, what is Sarah抯 monthly car payment? A) $480.57. B) $483.58. C) $416.67. D) $427.63. ................
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