Question 10 (10 points) On September 1, 2018, you bought a used car for $37,000....
50.1K
Verified Solution
Link Copied!
Question
Finance
Question 10 (10 points) On September 1, 2018, you bought a used car for $37,000. You paid $2,000 down and financed the balance with a five-year loan at an annual percentage rate of 6.8 percent compounded monthly. You started the monthly payments exactly one month after the purchase the loan. If the bank charges you a 3 percent prepayment penalty based on the loan balance, how much must you pay the bank on November 1, 2020
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.