Finance Assignment | Professional Writing
To purchase a car, Sarah took out a 60-month loan for $27.900 with a 6.2% annual interest rate. After making 42 payments, Sarah received a bonus from work and plans to use it to pay off the remaining balance. Calculate Sarah’s monthly payment and the amount needed to pay off her loan.
Sarah’s monthly payment is (Round to the nearest cent.) payments remaining is I The amount needed to pay off this loan with (Round to the nearest cent.) Large semitrailer trucks cost $135,000 each. A trucking company buys such a truck and agrees to pay for it by a loan that will be amortized with 10 semiannual payments at 10% compounded semiannually. Complete an amortization schedule for the first four payments of the loan. Fill out the amortization schedule below. (Round to the nearest cent as needed. Do not include the $ symbol in your answers.) Payment Amount of Interest Applied to Balance Number Payment Payment Principal $135,000
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