4-54. Kris borrows some money during her senior year to buy a new car. The car dealership allows her to defer payments for 12 months, and Kris makes 60 end-of-month payments thereafter. If the original note (loan) is for $25,000 and interest is 0.75% per month on the unpaid balance, how much will Kris' payment be? (4.9)

4-54. Kris borrows some money during her senior year to buy a new car. The car dealership allows her to defer payments for 12 months, and Kris makes 60 end-of-month payments thereafter. If the original note (loan) is for $25,000 and interest is 0.75% per month on the unpaid balance, how much will Kris' payment be? (4.9)

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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