When Maria Acosta bought a car 2 & 1/2 years ago, she borrowed $14,000 for 48 months at 8.4% compounded monthly. Her monthly payments are $344.42, but she'd like to pay off the loan early. How much will she owe just after her payment at the 2 & 1/2 year mark? (Round your answer to the nearest cent.)
When Maria Acosta bought a car 2 & 1/2 years ago, she borrowed $14,000 for 48 months at 8.4% compounded monthly. Her monthly payments are $344.42, but she'd like to pay off the loan early. How much will she owe just after her payment at the 2 & 1/2 year mark? (Round your answer to the nearest cent.)
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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When Maria Acosta bought a car 2 & 1/2 years ago, she borrowed $14,000 for 48 months at 8.4% compounded monthly. Her monthly payments are $344.42, but she'd like to pay off the loan early. How much will she owe just after her payment at the 2 & 1/2 year mark? (Round your answer to the nearest cent.)
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