Question Help The unpaid balance of an installment loan is equal to the present value...
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Question Help The unpaid balance of an installment loan is equal to the present value of the remaining payments. The unpaid balance, P, is given by the formula below where PMT is the regular payment amount is the annual interest rate, n is the number of payments per year, and is the number of years remaining in the loan. Complete partsa and b. below PPMT Multiply both sides of the loan payment formula by b. The price of a car is $21,000. You have saved 20% of the price as a down payment. After the down payment, the balance is financed with a 6-year loan with monthly payments at 7%. Determine the unpaid balance after three years The unpaid balance after three years is (Round to the nearest dollar as needed) Enter your answer in the answer box and then click Check Answer C ASES All parts showing
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