What is the unpaid balance after the twelfth payment, Microeconomics

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What is the unpaid balance after the twelfth payment

Problem

You buy a new Tesla Model X Plaid for $138,990 and borrow the full amount at 8 percent per year, compounded monthly, over 6 years. You plan to make monthly payments for 6 years. After making a year of payments, you decide you don't like the car and want to buy something else.

1. What is the unpaid balance after the 12th payment? (In other words, how much do you still owe on the car?)

2. How much of the 6th payment goes to the principal and how much to pay interest?

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Microeconomics: What is the unpaid balance after the twelfth payment

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Microeconomics: What is the unpaid balance after the twelfth payment

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