Question: 3 years ago, you borrowed $ 2 5 , 0 0 0 . The loan was a 5 - year loan with monthly payments with

3 years ago, you borrowed $25,000. The loan was a 5-year loan with monthly payments with a5.2% APR with monthly compounding. You just made the 36th payment. How much have yourepaid. Assume that you have not missed any of your regular monthly payments

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

When Maria Acosta bought a car 2 1 2 years ago, she borrowed $10,000 for 48 months at 7.2% compounded monthly. Her monthly payments are $240.39, but she'd like to pay off the loan early. How much...

Q:

When Maria Acosta bought a car 2 1 2 years ago, she borrowed $14,000 for 48 months at 7.2% compounded monthly. Her monthly payments are $336.55, but she'd like to pay off the loan early. How much...

Q:

4. [0/1 Points] DETAILS PREVIOUS ANSWERS HARMATHAP12 6.5.015.MI. When Maria Acosta bought a car 2 Enter a number. Need Held 1 will she owe just after her payment at the 2 2 year mark? (Round your...

Q:

When Maria Acosta bought a car 2 years ago, she borrowed $12,000 for 48 months at 7.2% compounded monthly. Her monthly payments are $288.47, but she'd like to pay off the loan early. How much will...

Q:

Will provide positive feedback if answer is correct and readable. Thank you! When Maria Acosta bought a car 2 1/2 years ago, she borrowed $15,000 for 48 months at 8.4% compounded monthly. Her monthly...

Q:

When Maria Acosta bought a car 2 1/2 years ago, she borrowed $13,000 for 48 months at 7.2% compounded monthly. Her monthly payments are $312.51, but she'd like to pay off the loan early. How much...

Q:

When Maria Acosta bought a car 2 1/2 years ago, she borrowed $14,000 for 48 months at 6.6% compounded monthly. Her monthly payments are $332.66, but she'd like to pay off the loan early. How much...

Q:

4. -/1 points HarMathAp 126.5.015.MI. My Notes Ask Your Teacher When Maria Acosta bought a car 2 years ago, she borrowed $17,000 for 48 months at 7.8% compounded monthly. Her monthly payments are...

Q:

When Maria Acosta bought a car 2 and a half years ago, she borrowed $11,000 for 48 months at 6.6% compounded monthly. Her monthly payments are $261.37, but she'd like to pay off the loan early. How...

Q:

can you please help me with solve A and B for this problem, please show steps of how you got the answers. thanks is this everything, there's no data or information missing! PV 3 years ago John...

Q:

Find and explain all the Errors in this code logical and syntax public class w { static Scanner console = new Scanner(System.in): public double calcArea (double radius) { double area = Math.PI *...

Q:

Consider the resonance structures for the carbonate ion. (a) How much negative charge is on each oxygen of the carbonate ion? (b) What is the bond order of each carbon-oxygen bond in the carbonate...

Q:

6. What software utility permits compiled Java programs to run on almost any computer?

Q:

Discuss the policy statement concept and identify three focus areas / procedures where a clearpolicy statement / operating procedure

Q:

Explain the importance of process issues such as communication in compensation management. page 551

Q:

List the major factors to consider in matching the pay strategy to the organizations strategy. page 552

Q:

Discuss how employee benefits in the United States compare with those in other countries. page 582