Question
(a) Angela Montery has a five-year car loan for a Jeep Wrangler at an annual interest rate of 6.5% and a monthly payment of $597.50.
(a) Angela Montery has a five-year car loan for a Jeep Wrangler at an annual interest rate of 6.5% and a monthly payment of $597.50. After 3 years, Angela decides to purchase a new car. What is the payoff on Angela's loan? (Round your answer to two decimal places.)
(b) Melissa Hernandez received an 8-year subsidized student loan of $29,000 at an annual interest rate of 4.4%. What are Melissa's monthly loan payments for this loan when she graduates in 1 year? (Round your answer to the nearest cent.)
(c) Angelica Reardon received a 5-year non-subsidized student loan of $17,000 at an annual interest rate of 6.2%. What are Angelica's monthly loan payments for this loan after she graduates in 4 years? (Round your answer to the nearest cent.)
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