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FIN 420 Week 4 DQ 2
This work of FIN 420 Week 4 Discussion Question 2 comprises:
Visit a site such as bankrate.com to determine current rates for both a 60month and a 36month loan on a new car where the buyer must finance $20,000. Using the loan calculator, what is the difference in monthly payments between the 60month loan and the 36month loan? Review the amortization tables. What is the difference in total interest one would pay over the life of these two loans? What do these differences show you about the true cost of the car?
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