To purchase a car, Sarah took out a 60-month loan for $27,900 with a 7.3% annual...
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To purchase a car, Sarah took out a 60-month loan for $27,900 with a 7.3% annual interest rate. After making 35 payments, Sarah received a bonus from work and plans to use it to pay off the remaining balance. Calculate Sarah's monthly payment and the amount needed to pay off her loan. Sarah's monthly payment is (Round to the nearest cent.) The amount needed to pay off this loan with payments remaining is (Round to the nearest cent.) To purchase a car, Sarah took out a 60-month loan for $27,900 with a 7.3% annual interest rate. After making 35 payments, Sarah received a bonus from work and plans to use it to pay off the remaining balance. Calculate Sarah's monthly payment and the amount needed to pay off her loan. Sarah's monthly payment is (Round to the nearest cent.) The amount needed to pay off this loan with payments remaining is (Round to the nearest cent.)
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Answer rating: 100% (QA)
To calculate Sarahs monthly payment we can use the loan formula for monthly payments Mon... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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