Question
To purchase a car, Sarah took out a 60-month loan for $32,500 with a 8% annual interest rate. After making 45 payments, Sarah received a
To purchase a car, Sarah took out a 60-month loan for $32,500 with a 8% annual interest rate. After making 45 payments, Sarah received a bonus from work and plans to use it to pay off the remaining balance. Calculate Sarah's monthly payment and the amount needed to pay off her loan.
a. Sarah's monthly payment is___
b.The amount needed to pay off this loan with ____ payments remaining is ______
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Financial Liberalization In Developing Countries Issues Time Series Analyses And Policy Implications
Authors: Abdullahi Dahir Ahmed, Sardar M. N. Islam
1st Edition
3790828076, 978-3790828078
