To purchase a car, Sarah took out a 60-month loan for $33,000 with a 7.6% annual interest rate. After making 45 payments, Sarah received a bonus from work and plans to use it to pay off the remaining balance. Calculate Sarah's monthly payment and the amount needed to pay off her loan. Sarah's monthly payment is (Round to the nearest cent.) payments remaining is The amount needed to pay off this loan with (Round to the nearest cent.)
To purchase a car, Sarah took out a 60-month loan for $33,000 with a 7.6% annual interest rate. After making 45 payments, Sarah received a bonus from work and plans to use it to pay off the remaining balance. Calculate Sarah's monthly payment and the amount needed to pay off her loan. Sarah's monthly payment is (Round to the nearest cent.) payments remaining is The amount needed to pay off this loan with (Round to the nearest cent.)
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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