Question
You take out a 5-year amortized loan to buy a new car. After making monthly payments of $243.20 for 2 years, you still owe $8,234.
You take out a 5-year amortized loan to buy a new car. After making monthly payments of $243.20 for 2 years, you still owe $8,234. If you decided to pay the loan off, how much will you save in interest?
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
