*24. You have some extra cash this month and you are considering putting it toward your car...
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*24. You have some extra cash this month and you are considering putting it toward your car loan. Your interest rate is 7%, your loan payments are $600 per month, and you have 36 months left on your loan. If you pay an additional $1000 with your next regular
$600 payment (due in one month), how much will it reduce the amount of time left to pay off your loan?
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Related Book For
Fundamentals Of Corporate Finance
ISBN: 9780134475561
4th Edition
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
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