question archive The purchase of a car requires a $ 20,636 loan to be repaid in monthly installments for four years at 12% annual real interest rate
The purchase of a car requires a $ 20,636 loan to be repaid in monthly installments for four years at 12% annual real interest rate
Subject:EconomicsPrice: Bought3
The purchase of a car requires a $ 20,636 loan to be repaid in monthly installments for four years at 12% annual real interest rate. If annual inflation rate is 2 %, find the exra amount to be paid in 20th month due to inflation.
