Use the Present Value and Future Value Tables Included in Appendix

question 25

Multiple Choice

Use the present value and future value tables included in Appendix 8 and on the textbook companion website.
- You have just purchased an automobile for $15,000 and will be financing it at 12 percent interest compounded monthly for 5 years. Your monthly payment will be

• A) $4,161.15
• B) $3,068.49
• C) $1,802.02
• D) $333.67