Question: After making 4 5 payments on a 6 0 - month, $ 1 0 , 0 0 0 car loan with APR of 4 %

After making 45 payments on a 60-month, $10,000 car loan with APR of 4%, what is the outstanding balance on the loan?

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:

Hello, I'm working in the Investment Analysis for Real Estate Decisions, 8th edition, on page 228 I need help with #1 and #2 about income tax consequences and before tax cash flow. I put the relevant...

Q:

2 A list of businesses has been provided in a text file. These businesses need to be contacted but first the data needs to be imported into Excel and transformed. Establish a connection to the text...

Q:

1 1.1 REQUIRED Use the percentage-of-sales method to determine the increase in the net working capital requirements of Umdloti Suppliers for 2023. INFORMATION (6marks) The following information was...

Q:

Chapter 7 Financial Planning Exercise 2 Calculating debt safety ratio Use Worksheet 7 . 1 . Every 6 months, Leo Perez takes an inventory of the consumer debts he has outstanding. His latest tally...

Q:

6.5 Corporate Self-Regulation and Ethics Programs: Challenges and Issues According to the ethicist Lynn Paine in a Harvard Business Review article, a values-based approach in ethics programs should...

Q:

So, Inc., manufactures and sel snowboards Slides manufactures a single model the Poe. In late 2017. Side's management accountant gathered the following data to prepare budgets for January 2018 Cid...

Q:

Spreadsheet Problem: Construction Loan You have secured a loan from your bank for two years to build your home. The terms of the loan are that you will borrow $100,000 now and an additional $50,000...

Q:

a)Review and complete the cash budget for 6 months to June. In preparing the budget we will have to calculate PAYG tax instalment in line with the very latest assessment of tax (i.e. the latest...

Q:

i attached the q and i have e-book for this q but its to big to attach here so if you need the book i can send to you by emil ,thanks Bruner Eades Schill Visit the Online Learning Center at...

Q:

i attached the q and i have e-book for this q but its to big to attach here so if you need the book i can send to you by emil ,thanks Bruner Eades Schill Visit the Online Learning Center at...

Q:

Refer to the information in problem 16, except that John operates Mason Enterprises as an S corporation. How would John report the income and loss items from S corporation operations? In problem...

Q:

Identify and discuss five problems with regard to the application of FAS 133?

Q:

E8.12 (LO 2) (Purchase Commitments) At December 31, 2025, Volkan AG has outstanding noncancelable purchase commitments for 40,000 gallons, at 3.00 per gallon, of raw material to be used in its...

Q:

Scenario: A Multi-national Corporation called The Globe has created a subsidiary called Thirst in an under-developed country called non-potable waters. This hosting country suffers from a severe...

Q:

b. Explain how you initially felt about the communication.

Q:

3. Identify the methods used within each of the three approaches.

Q:

a. When did your ancestors come to the United States?