You buy a car for $38,000. You agree to a 60-month loan with a monthly interest rate of 0.55%. What is your required monthly payment?
A) $634.24
B) $745.29
C) $605.54
D) $764.07
E) none of the above Pmt = 38,000/PVIFA (i = 0.55%, n = 60)
Correct Answer:
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