Thursday
September 18, 2014

Homework Help: Amortization of Loans

Posted by Amanda on Saturday, May 5, 2012 at 12:33am.

A car is purchased for $9,192.57 with $1470 down and a loan to be repaid at $200 a month for 2 years followed by a balloon payment. If the interest rate is 6% compounded monthly, how large will the balloon payment be?

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

math - Joe is getting ready to buy a car. He has $20,000 in investments earning...
Algebra - This assignment is about a car loan. A financial institution in your ...
business math - mary smith purchased a new car for $28,750. she made a 15% down ...
math - Sam purchased a used car for $14,750. He put $2,000 down and financed the...
Math - consider 2 car loans A) 5.9% APR and 3,000 'cash back' B) 1.9% APR and no...
Fianance - Jake is looking at refinancing his mortgages and paying off his ...
Math - Louise Grantham is buying a home for $198,500 with a 20% down payment. ...
math - calculate the monthly payment by loan amortization table: loan $26000, ...
Maths - Firm has a $500,000 loan with 9% APR (compounded monthly) Loan is 5-yr ...
financial alg - Forrest purchased a car for $20,640. He made a down payment of $...

Search
Members