2 years ago you borrowed $75,000 to buy a car. The loan was a 6-year loan with monthly payments with a 3.2% APR. You have decided to repay the loan today (2 years after you borrowed the money). How much do you owe the bank?

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 8EB: You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how...
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2 years ago you borrowed $75,000
to buy a car. The loan was a 6-year
loan with monthly payments with
a 3.2% APR. You have decided to
repay the loan today (2 years after
you borrowed the money). How
much do you owe the bank?
Transcribed Image Text:2 years ago you borrowed $75,000 to buy a car. The loan was a 6-year loan with monthly payments with a 3.2% APR. You have decided to repay the loan today (2 years after you borrowed the money). How much do you owe the bank?
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