More on leasing.

1. Jessie's
New Truck
or
learning about leasing
Kids in a Truck by flickr user JeffS

2. Trudy wants to buy a used Ford Mustang for $16 000 plus tax. She has
$3 000 for a down payment and needs a loan to pay the rest. The bank
charges 9% interest compunded monthly and the loan must be repaid
in 3 years.
HOMEWORK
What is the loan principal?
How much are Trudy's monthly payments? N=
I%=
PV=
PMT=
FV=
P/Y=
C/Y=
PMT: END BEGIN