Need HelpHomework Answers
For car B
Loan Amount = 24,400
Calculating Monthly payment,
Using TVM Calculation,
PMT = [PV = 24,400, FV= 0, N= 48, I = 0.03/12]
PMT = $540.08
Total cost = 540.08(48) = $25,924
So, CAR B is cheaper
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