mm1 27

Derek borrows $310,903.00 to buy a house. He has a 30-year mortgage with a rate of 4.55%. After making 128.00 payments, how much does he owe on the mortgage?

Derek borrows $38,937.00 to buy a car. He will make monthly payments for 6 years. The car loan has an interest rate of 6.19%. After a 11.00 months Derek decides to pay off his car loan. How much must he give the bank?