You have taken an amortized loan at 87 for 6 years to pay


You have taken an amortized loan at 8.7% for 6 years to pay off your new car, which costs $12,000. After 5 years of monthly payments of $214.52, you decide to pay off the loan. Find the unpaid balance. Assume monthly payments.

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Finance Basics: You have taken an amortized loan at 87 for 6 years to pay
Reference No:- TGS0627336

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