John takes out a loan for $10100 at 7% interest compounded monthly and is making payments of $110 a month. Calculate his remaining balance after 30 months.

John's balance due after 30 months will be $

Time Value of Money Solver

N: =1.6 30 - 24 = 6.... 1.6 for the year; I'm not sure??

Number of Compounding Periods

I:% =7

Annual Interest Rate as a Percent

PV: =10100

Present Value

PMT: =

Payment

FV: =

Future Value

P/Y:12

Payments per Year

C/Y:12

Compounding Periods per Year

PMT: = END

Payments are made at the end of the period

I'm using a TI-84 PLUS, I'm not sure how you factor in the $110 into this equation.