Business, 09.10.2019 22:00 urstruulyemily
You want to finance a new car. the bank offers you a financing plan that involves the following specifications: - the total value for the brand new car is $20,000 - you pay a down payment of $5,000 (before you receive the car) - the financing interest rate is a nominal rate of 15%, compounded monthly. - you will make payments on a monthly basis in the amount of $400 per month. how many months will it take you to payback the car? (round up your answer to the nearest whole integer, e. g. if answer your calculator displays 40.9, the answer will be 41)
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