Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those presented

3 answers
Question:

Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those presented here. For long-term loans, the differences may be pronounced. To buy a car, you borrow $27,000 with a term of five years at an APR of 6%. What is your monthly payment? (Round your answer to the nearest cent.)$
How much total interest is paid? (Round your answer to the nearest cent.)
\$

Answers

1 answer

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