Business, 09.09.2020 19:01 briannalv0814
On January 1, LaQuita bought an used car for $7,200 and agreed to pay for it as follows: 1/3 down payment, the balance to be paid in 36 equal monthly payments, the first payment due February 1, an annual interest rate of 9% compounded monthly.
a. What is the amount of LaQuita's monthly payment
b. During the summer LaQuita made enough money to pay off the entire balance due on the car as of October 1 (October 1 payment plus the amounted owed on the loan). How much did LaQuita owe on October 1 after the October 1 payment?
Answers: 2
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On January 1, LaQuita bought an used car for $7,200 and agreed to pay for it as follows: 1/3 down pa...
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