SOLUTION: Nick has been depositing $ 130 in a savings account every three months for the past three years. This account paid 6 % convertible quarterly. Nick has just made the last deposit. N
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Question 1192614: Nick has been depositing $ 130 in a savings account every three months for the past three years. This account paid 6 % convertible quarterly. Nick has just made the last deposit. Nick is buying a car for $ 20000. He is taking out a car loan. He will use the accumulated value of his savings account as the downpayment on the car. The loan is at 2 % convertible quarterly and has a term of 6 years. Find the size of Nick's monthly car loan payment.
Nick's monthly car payment Answer by ikleyn(52879) (Show Source):
