You have just taken out a $19,000 car loan with a 4% APR, compounded monthly. The loan is for five years. When you make your first payment in one month, how much of the payment will go toward the principal of the loan and how much will go toward interest? (Note: Be careful not to round any intermediate steps less than six decimal places.)
+3
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “You have just taken out a $19,000 car loan with a 4% APR, compounded monthly. The loan is for five years. When you make your first payment ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.