Home / Expert Answers / Finance / you-buy-a-car-today-for-38-500-making-a-10-000-down-payment-and-borrowing-the-balance-from-your-b-pa923

(Solved): You buy a car today for $38,500 making a $10,000 down payment and borrowing the balance from your b ...




You buy a car today for $38,500 making a $10,000 down payment and
borrowing the balance from your bank with a 84 month fully
You buy a car today for $38,500 making a $10,000 down payment and borrowing the balance from your bank with a 84 month fully amortized loan. The loan has a 6.2% annual percentage rate (APR). What is your monthly loan payment? What is your expected balance after five years (60 months)? Round your final answers to the nearest dollar.


We have an Answer from Expert

View Expert Answer

Expert Answer


We have an Answer from Expert

Buy This Answer $5

Place Order

We Provide Services Across The Globe