Question
Darci Kighorn gets a 7.5% $9,300 car loan on July 14 with monthly payments of $224.86. Payments are due on the 14th of each month,
Darci Kighorn gets a 7.5% $9,300 car loan on July 14 with monthly payments of $224.86. Payments are due on the 14th of each month, starting August 14. The lender receives her first payment on August 15 and her second payment on September 12. What is the balance after the second payment?
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Finance For Executives Managing For Value Creation
Authors: Gabriel Hawawini, Claude Viallet
7th Edition
1473778913, 978-1473778917
