Question: This question has two parts answer both questions please thank you Part 1)When Maria Acosta bought a car 2 1/2 years ago, she borrowed $17,000
This question has two parts answer both questions please thank you
Part 1)When Maria Acosta bought a car 2 1/2 years ago, she borrowed $17,000 for 48 months at 7.8% compounded monthly. Her monthly payments are $413.43, but she'd like to pay off the loan early. How much will she owe just after her payment at the 2 1/2 year mark? (Round your answer to the nearest cent.)
Part 2) A man buys a car for $39,000. If the interest rate on the loan is 12%, compounded monthly, and if he wants to make monthly payments of $800 for 48 months, how much must he put down? (Round your answer to the nearest cent.)
###please use proper formula for both questions, otherwise it will be wrong thank you ###
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