Question: A bank recently loaned you $ 1 4 , 9 7 0 . 0 3 to buy a car. The loan is for 5 years

A bank recently loaned you $14,970.03 to buy a car. The loan is for 5 years and is fully amortized. The rate on the loan is 12% per year, and payments are made at the end of each month. What will be the remaining balance on the loan after you make the 21st payment?

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