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47. [-/0.09 Points] DETAILS HARMATHAP12 6.5.029. MY NOTES A recent college graduate buys a new car by borrowing $16,000
Posted: Tue Nov 16, 2021 7:02 am
by answerhappygod
- 47 0 09 Points Details Harmathap12 6 5 029 My Notes A Recent College Graduate Buys A New Car By Borrowing 16 000 1 (30.11 KiB) Viewed 98 times
47. [-/0.09 Points] DETAILS HARMATHAP12 6.5.029. MY NOTES A recent college graduate buys a new car by borrowing $16,000 at 8.4%, compounded monthly, for 5 years. She decides to pay $353 instead of the monthly payment required by the loan () What is the monthly payment required by the loan? (Round your answer to the nearest cent.) $ How much extra did she pay per month? (Round your answer to the nearest cent.) $ (b) How many $353 payments will she make to pay off the loan? (Round your answer up to the next whole number.) payments (c) How much will she save by paying $353 per month rather than the required payment? (Round your answer to the nearest cent.) Need Help? Raad Show My Work in