Homework Question : Finance / Marketing

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Question description

Think of a car you would like to purchase in the next 10 years. Interest rates for cars dpened on many things such as the type of car and the life o the loan. Consider the following infomation.
48 month loan (used car) 4.26%
 48 month loan (new car) 3.85%
36 month loan (used car) 4.49%
36 month loan (new car) 3.73%
using the information above you are considering a used car for $7,000 and a new car for $30,000 what are your different monthly payments? Is it better to be a used or new? Explain.

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(Top Tutor) Daniel C.
School: University of Maryland
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