You are buying a car for $10,000. You will put down $1,000 of your own money...

You are buying a car for $10,000. You will put down $1,000 of your own money and
get a loan for the rest of the purchase price. The bank offers you the following loan
terms: APR 6% (Annual percentage rate), 1 year loan with monthly payments.

1. Calculate the amount of the loan payment (PMT):

2. Create an amortization schedule paying off the loan.

Expert Solution

jeff jeffy answered 2 years ago

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