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I have a specific question I know that FV = 73,215 PV = 30,000 R = 4/12 .333 N(number of total periods) = 60 C(monthly
I have a specific question
I know that
FV = 73,215
PV = 30,000
R = 4/12 .333
N(number of total periods) = 60
C(monthly payment) = 552
given all this information I've found, how do I find out what he owes in the last 2 years? or the last 24 months? I can't seem to understand how to take this info and find the answer.
Nick Glenn bought a car for $30,000 financed by the bank at 4% APR. The payments are to be made monthly for 5 years. After 3 years, he decided to trade this car for an upgrade sporty looking car. How much money, Nick owes to the bank
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