Suppose you take out a loan for 160 days in the amount of $14,000 at...
60.1K
Verified Solution
Link Copied!
Question
Basic Math
Suppose you take out a loan for 160 days in the amount of $14,000 at 7% ordinary interest. After 30 days, you make a partial payment of $1,500. After another 60 days, you make a second partial payment of $4,000. What is the final amount (in $) due on the loan? (Round your answer to the nearest cent.)
Answer & Explanation
Solved by verified expert
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: Zin AI - Your personal assistant for all your inquiries!