Freddie decides to buy the fleet of vehicles after all, for a price…

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Question Answered step-by-step Freddie decides to buy the fleet of vehicles after all, for a price… Freddie decides to buy the fleet of vehicles after all, for a price of $453,000. Freddie’s friend Kiki, who is an executive at “Mercury Bank”, has arranged a special interest rate of 2.4% p.a. compounding monthly for Freddie to take out a loan for this purchase.Freddie is considering taking this special offer, and intends to fully repay the loan using level monthly repayments over the coming 8 years. The first payment is exactly one month from today.(a) Calculate the size of the level monthly repayment. Give your answer in dollars, to the nearest cent Business Finance ACST 1001 Share QuestionEmailCopy link Comments (0)