Your cousin has borrowed $48,000 for a car. The interest ra…
Your cousin has borrowed $48,000 for a car. The interest rate is 7% (with monthly payments) and the loan is for 72 months. A. What is the monthly payment? B. What will the balance be after 36 months? C. Correctly amortize payments 37 and 38. 4 points if correct, -8 if incorrect.
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