Homework 7 - do you have to borrow from the credit union to...

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Homework 7 1. You just bought a new Jeep Wrangler and secured dealer financing for $26,500 over 48 months at an interest rate of 1.5% per month (which is extremely high, but maybe your credit was bad, or you had no previous credit). How much are your monthly car payments? 2. After paying on your (Problem 1) car loan for 10 months, you find out that you can refinance the loan at your parents’ credit union with a 36-month loan at an interest rate of 0.75% per month. How much
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Unformatted text preview: do you have to borrow from the credit union to pay off the balance remaining on the original loan you got from the dealer? 3. What are your new monthly loan payments after refinancing at your parent’s credit union? 4. Do Problem 2.55 in the textbook. 5. Do Problem 2.65 in the textbook. 6. Do Problem 2.73 in the textbook....
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This note was uploaded on 12/07/2011 for the course CIVL 4111 taught by Professor Moore,l during the Fall '08 term at U. Memphis.

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