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(Solved): A teiend of your bought a new anort car with a 55,000 down payment pius a 526.000 car ioan fhat is ...




A teiend of your bought a new anort car with a 55,000 down payment pius a \( 526.000 \) car ioan fhat is financed at an inter
A teiend of your bought a new anort car with a 55,000 down payment pius a car ioan fhat is financed at an interest rate of por menth for 60 monent. a. Cavidate the requiced monthly soan payment on the car. b. How much dees your fribnd ssill owe on the car loan immedialely after she makes the 24 th monthly payment? 0. If, affer the 24th payment, she decides to pay 3300 more esch morith. hore many months will it take her to payofl the remaining loan she oves? a. The reguired monthly goyment in Found to the nearest cent) c. If will tave her monthe fiound-un to ino roarest monthy


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a.Principal amount after downpayment = 26000-5000= 21000Monthly payment = Pr(1+r)?/((1+r)?-1)= 21000 × 0.0025 × (1.0025??)/(1.0025??-1)= $377.3
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