Suppose that you decide to borrow $13,000 for a new car. You can select one of the following loans, each requiring regular monthly payments. Installment Loan A three-year loan at 5.1%
Installment Loan B: five-year loan at 52%
(3)
Use PMT
to complete parts (a) through (c) below.
a. Find the monthly payments and the total interest for Loan A
ce The monthly payment for Loan Aiss
(Do not round until the final answer. Then round to the nearest cent as needed.)
11)