You bought a car 3 years ago, taking out a $14,000.00 loan at a 5.8% interest rate for 4 years.
Your monthly payments are $327.51.
A. How much will still be owed after making payments for 3 years?
I will still owe ________
after making payments for 3 years.
B. If the car's value is now $7,500.00 then how much equity do you have after making payments for 3
years?
I will have ______ in equity after making payments for 3 years.
Enter the given values.
N: =
0
Number of Compounding Periods
1:%=
0
Annual Interest Rate as a Percent
PV: =
0
Present Value
PMT: = 0
Payment
FV: =
Future Value
P/Y:
Payments per Year
C/Y:
0
12 :
Solve
Solve
12 :
Compounding Periods per Year
PMT: = END Payments are made at the end of the period
