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Suppose that under the Plan of Repayment one should pay of the debt in a number of equal end-of-month inetallments (principal and interest). This is the oustomary way to pay off loans on automobiles, hoOuse mortgsges, etc. A friend of yours has finanoed $22,000 an the purchase of new automobile, and the annual interest rate is 6% (0.5% per month). a, Monthly payments over a 24-month loan period will be how much? b. How much interest and principal will be paid within three month of this loan? Click the loon to view the interest and annulty table for discrete compounding when /=0.5% per month, a. The monthly payment over a 24-month loan period is $ 974.6. (Round to the nearest cent.) b. F in the table below. (Round to the nearest cent.)

A most of .000 borrowed from the bank an annual interest rated Cette vet dered to come off bin 4 years the repayment than 14.000) werd in een 7.000 h, padedood and the interest web chat Click the conte view the interest and out able for dette compounding when i 13 peryna The end of your payment mured to pay of the indys - 54706 per year Round to the west) in the table below. Round to the newest coa) AO ) Year for SE Total Many Owl Year Pril Tur Enco Payment 1 A most of .000 borrowed from the bank an annual interest rated Cette vet dered to come off bin 4 years the repayment than 14.000) werd in een 7.000 h, padedood and the interest web chat Click the conte view the interest and out able for dette compounding when i 13 peryna The end of your payment mured to pay of the indys - 54706 per year Round to the west) in the table below. Round to the newest coa) AO ) Year for SE Total Many Owl Year Pril Tur Enco Payment 1

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