Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
When Maria Acosta bought a car 2 1/2 years ago, she borrowed $12,000 for 48 months at 6.6% compounded monthly. Her monthly payments are $285.13,
When Maria Acosta bought a car 2 1/2 years ago, she borrowed $12,000 for 48 months at 6.6% compounded monthly. Her monthly payments are $285.13, but she'd like to pay off the loan early. How much will she owe just after her payment at the 2 1/2-year mark? (Round your answer to the nearest cent.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started