Question 1179081
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Nick has been depositing $ 190 in a savings account every three months for the past three years. 
This account paid 3 % convertible quarterly. Nick has just made the last deposit. 
Nick is buying a car for $ 14000. 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 3 % convertible semiannually 
and has a term of 4 years. Find the size of Nick's monthly car loan payment.
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As the problem is worded, printed and presented, it seems illogical to me.


Indeed, it says that the car loan is compounded semiannually.

The problem says nothing about the periodicity of the Nick payments.

By default, it means that Nick pays semiannually for the car loan.


But then the problem suddenly asks about the size of Nick's monthly car loan payments.


It is out of the human logic to present the problem in this form.



Then @CPhill in his solution finds the size of the Nick's monthly payments,
assuming that the monthly loan rate is equivalent to the semiannual rate.


But in reality, the bank does not perform monthly compounding for this loan - 
-it performs semiannual payments for accumulated 6-month deposits.


I understand that the problem's creator wants very much to create a new problem about a loan.
I saw many attempts at this forum to create such problems.
But very often, such attempts do not go along the human logic; instead, they go precisely against it.
Exactly as this one does not go along the human logic - it goes against it.


My opinion is that for this problem its formulation and the @CPhill' solution
both are out of the human logic.


They both are in area of absurdism, and the right place for both is a garbage bin.