5. Karl can afford car payments of $325 a month for 60 months. The bank will...

Question

Question

Answer 1

Answer #1

rate positively .. let me know if you need any clarification..


We have to use financial calculator to solve this
put in calculator -

FV		0
PMT		-325
I	5.75%/12	0.4792%
N		60

Compute PV		$16,912.31

therefore answer =		$16,912.31

Answer 2

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