Question
You owe $6,800 on a car loan that has an interest rate of 6.75% and monthly payments of $310. You lost your job and your
You owe $6,800 on a car loan that has an interest rate of 6.75% and monthly payments of $310. You lost your job and your new jobs pays less, so your lender just agreed to lower the monthly payments to $225 while keeping the interest rate at 6.75%. How much longer (in months) will it take you to repay this loan than you had originally planned?
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Contemporary Engineering Economics
Authors: Chan S. Park
5th edition
136118488, 978-8120342095, 8120342097, 978-0136118480
