You take out a 7-year amortized loan to buy a new car. After making monthly...
50.1K
Verified Solution
Link Copied!
Question
Accounting
You take out a 7-year amortized loan to buy a new car. After making monthly payments of $245.10 for 4 years, you still owe $8,308. If you decided to pay the loan off, how much will you save in interest? DR. A total of swould be saved in interest. (Round to the nearest cent as needed.)
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
