$\mathrm{}$ You are buying a $($$ $20,000)$ boat with a down$-$payment of $($$ $4,000)$ and you finance the remaining amount with a $3$ year loan at $(7\mathrm{.}8\%)$ compounded weekly. $$

$($A$)$ What are your weekly payments?

 $($B$)$ What is the remaining balance after $2$ years? $$

$($C$)$ How much are you saving by paying the remaining balance after $2$ years? 

 

  

Answer rating: 100% (QA)

To calculate the weekly payments remaining balance after 2 years and the savings by paying off the remaining balance we can use the following informat... View the full answer