The payment amount needed to amortize the loan in 5 yr . Gwen finances $ 15000 car loan at an annual interest rate of 6 % , compounded monthly over a 5 yr term.
The payment amount needed to amortize the loan in 5 yr . Gwen finances $ 15000 car loan at an annual interest rate of 6 % , compounded monthly over a 5 yr term.
Solution Summary: The author calculates the payment amount needed to amortize a 15000 car loan at an annual interest rate of 6%.
To calculate: The payment amount needed to amortize the loan in 5yr. Gwen finances $15000 car loan at an annual interest rate of 6%, compounded monthly over a 5yr term.
(b)
To determine
To calculate: The total amount of interest pays by Gwen in every month for 5yr. Gwen finances $15000 car loan at an annual interest rate of 6%, compounded monthly over a 5yr term.
(c)
To determine
To calculate: The time needed toamortize the $15000 loan when Gwen pays an extra 20% every month. Gwen finances $15000 car loan at an annual interest rate of 6%, compounded monthly over a 5yr term.
(d)
To determine
To calculate: The amount of total interest pays by Gwen if she pays Q every month. Gwen finances $15000 car loan at an annual interest rate of 6%, compounded monthly over a 5yr term.
(e)
To determine
To calculate: The amount saved by Gwen on the total interest to amortize. Gwen finances $15000 car loan at an annual interest rate of 6%, compounded monthly over a 5yr term.
Calculus, Single Variable: Early Transcendentals (3rd Edition)
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