Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. you take out a 7-year amortized loan to buy a new

You take out a 7-year amortized loan to buy a new car. After making monthly...

50.1K

Verified Solution

Question

Accounting

image

You take out a 7-year amortized loan to buy a new car. After making monthly payments of $245.10 for 4 years, you still owe $8,308. If you decided to pay the loan off, how much will you save in interest? DR. A total of swould be saved in interest. (Round to the nearest cent as needed.)

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

The enthalpy change under standard conditions for which of the reactions below would be equal to...

Biology
1.2K views

why are tapeworms in a class of their own?

Physics
1.2K views

As a 16,000 kg jet plane lands on an aircraft carrier, it’s tail hook snags a...

Biology
1.2K views

The famous scientist Johnny Nerdelbaum Frink decides to investigate a fly with unusual wings. He...

Geometry
1.2K views

The measures of the interior angles of a polygon are 3x 10 5x 3x 1...

Basic Math
1.2K views

A sports ball has a diameter of 19 cm. Find the volume of the ball.Round...

Basic Math
1.2K views

Let u=-51+2j and v=-51-5j. Decompose u into two vectors u, and u?, where u, is...

Accounting
1.2K views

what is the market price for a bouquet of flowers

Accounting
1.2K views

dont answer the 1st one answer the 2nd one only please BUILT-IN-GAINSTAX...

Accounting
1.2K views

The following transactions were selected from the records of Evergreen Company: ...

Finance
1.2K views

1. Target and Walmart, which has been and is the superior competitor? Why? 2....

Accounting
1.2K views

When the bank deposit is made, a stamped deposit slip is returned to the companys...