auto loan payment question

Business & Finance
Tutor: None Selected Time limit: 1 Day

if rate is 4.06, you borrow 20,000, 4 years, how much do you pay annually? and how much would you pay after 4 years?

Feb 5th, 2015

200000=100%

        ?  =104.6%

20,000*104.6/100

=20920

amount paid annually=20920/4=5230

amount paid in four years=20920

Feb 5th, 2015

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