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On January 1, year 1, you borrow $20,000 to purchase a new vehicle by agreeing to a 4.25%, 6-year note with the bank. Payments of

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On January 1, year 1, you borrow $20,000 to purchase a new vehicle by agreeing to a 4.25%, 6-year note with the bank. Payments of $315.19 are due at the end of each month with the first installment due on January 31, year 1. ROUND YOUR ANSWERS TO THE NEAREST CENT (2 decimal places). 25. AFTER you make your first car payment installment) how much would you still owe the bank? $_ 26. Determine the amount of interest for the second car payments 27. After you pay all the car payments, how much do you owe the bank at the end of the 6 years? $_

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