Suppose that you decide to borrow 14000 for a new car you, Financial Management

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Suppose that you decide to borrow 14000 for a new car you

Suppose that you decide to borrow ?$14,000 for a new car. You can select one of the following amortized? loans, each requiring regular monthly payments. Installment Loan? A: three-year loan at 6.3?% Installment Loan? B: five-year loan at 5.8?%

a. Find the monthly payments and the total interest for Loan A.

b. Find the monthly payments and the total interest for Loan B.

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Financial Management: Suppose that you decide to borrow 14000 for a new car you

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Financial Management: Suppose that you decide to borrow 14000 for a new car you

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