Monday, 30 September 2019

You want to borrow $60,000 for a new tricked-out Hummer H2 for your high school basketball star son. If

You want to borrow $60,000 for a new tricked-out Hummer H2 for your high school basketball star son.  If you can somehow qualify for an outrageously low interest rate of 4.5%, compounded monthly for a six-year (60 month) loan, what amount will your monthly payment be?

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