Hank purchased a car for $25,000 Two years ago using a four year loan with an interest rate of 6.0% he has decided that he would sell the car now if you could get a price that would pay off the balance of his loan whats the minimum price hank would need to receive for his car calculate his monthly payments been used as

iplOw/tonhect.htm Saved Help Save & Exit Sube Check my work Problem 5-54 Loan Balance (LG5-9) Hank purchased a car for $25,000 two years ago using a 4-year loan with an interest rate of 6.0 percent. He has decided that he would sell the car now, if he could get a price that would pay off the balance of his loan. What's the minimum price Hank would need to receive for his car? Calculate his monthly payments, then use those payments and the remaining time left to compute the present value (called balance) of the remaining loan. (Do not round intermediate calculations and round your final answer to 2 decimal places.) inimum price 160, 40EE Ner>