Yusra has a term loan and after her 42nd payment she still owes $6,728.25. The annual interest rate on this loan is 4.86%. This month she is making payment 43. Her monthly payment is $323.41. How much will her "balance owed" decrease?
Yusra has a term loan and after her 42nd payment she still owes $6,728.25. The annual interest rate on this loan is 4.86%. This month she is making payment 43. Her monthly payment is $323.41. How much will her "balance owed" decrease?
Chapter7: Credit Cards And Consumer Loans
Section: Chapter Questions
Problem 6DTM
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Yusra has a term loan and after her 42nd payment she still owes $6,728.25. The annual interest rate on this loan is 4.86%. This month she is making payment 43. Her monthly payment is $323.41. How much will her "balance owed" decrease?
Round your answer to the nearest penny. Input the dollar sign followed by the number. Do not put a space between the dollar sign and the number. Example: $167.89
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