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Both please and thank you You purchase a vehicle for $20,000. The taxes and fees total another $2,000, and you need to include that extra
Both please and thank you
You purchase a vehicle for $20,000. The taxes and fees total another $2,000, and you need to include that extra amount in your loan. Your loan APR is 8%, and your term is 60 months. After three years, your vehicle is worth $12,000. If you have been making minimum payments for the last three years, how much equity do you have, and how much do you still owe on the vehicle? (Select the correct answers, even though the answer list does not specify which number is a liability and which is equity). $7,432$11,137$2,137$4,568$9,863 QUESTION 12 You purchased a house for $100,000 at an 8% APR. Your loan term is 360 months. If you make minimum payments, how many months will it take to have a loan balance of $50,000 ? Hint: If you want to know how long until your loan balance is $50,000, then in the future your loan value is $50,000. 416 months 269 months 189 months 174 months 280 monthsStep by Step Solution
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