A car loan of $18,290 is to be repaid by equal monthly payments for three years. The interest rate is 1.8% compounded monthly. How much interest will be included in the first payment?
A) $329
B) $103
C) $27
D) $76
E) $39
Correct Answer:
Verified
Q1: A loan of $45,000 at 8% compounded
Q3: A $60,000 loan at 12% compounded
Q4: A $60,000 loan at 12% compounded
Q5: A home improvement loan is to be
Q6: Miss Jones borrowed $10,000 at 12% compounded
Q7: A mortgage loan of $132,000 at 6%
Q8: Miss Jones borrowed $10,000 at 12% compounded
Q9: A loan of $12,000 with interest
Q10: A loan of $12,000 with interest
Q11: A $60,000 loan at 12% compounded
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents