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Author Question: Jacob needs to borrow $19 000 to purchase a car. If the interest rate is seven percent compounded ... (Read 63 times)

cabate

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on: Nov 11, 2019
Jacob needs to borrow $19 000 to purchase a car. If the interest rate is seven percent compounded monthly, which of the following is true when considering a five, seven or ten year term?
◦ If he selects a five year term he will save $1514.55 in interest compared with the seven year term.
◦ If he selects a ten year term he will save $2385.28 in interest compared with the seven year term.
◦ The overall interest will be the same, regardless of the term.
◦ If he selects a seven year term he will save interest by keeping his payments to $286.76 per month.
Personal Finance ¦ Madura, Gill ¦ 3rd Edition
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Marked as best answer by cabate on Nov 11, 2019

wfdfwc23

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Reply #1 on: Nov 11, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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cabate

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Reply 2 on: Nov 11, 2019
Great answer, keep it coming :)

Animal_Goddess

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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