Question: Use the amortization table below to answer the following questions. The loan is for 5 years at 5 . 5 % interest on a $

Use the amortization table below to answer the following questions. The loan is for 5 years at 5.5% interest on a $30,000 car. Use the amortization table below to answer the following questions. The loan is for 5 years at 5.5% interest on
a $30,000 car.
a. How much are the yearly payments?
b. If you traded your car in at the end of the 3rd year (2013) and it was worth $15,500, how much would you
get to put towards the new car that you are buying after paying back the bank?
Use the amortization table below to answer the following questions. The

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