Some notes would be helpful. calculator steps as well! Thanks Mackenzie wants to...
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Some notes would be helpful. calculator steps as well! Thanks
Mackenzie wants to buy a new Mercedes. The cost is $80,000. Mackenzie will put 10% down and pay the rest in 5 equal annual payments which include interest at 8%. How much are the payments? If Mackenzie amortizes the above loan correctly, what would be the interest expense for the second year? If Mackenzie amortizes the loan correctly, what would be the principal balance after the third payment? If Mackenzie made 60 monthly payments (deal still the same, 10% down and 8% interest), what would be the amount of each payment? Still on monthly payments, what would be the interest expense for the second month
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Some notes would be helpful. calculator steps as well! Thanks 