16500 three years ago using a 4-year loan with an interest, Ask an Expert

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$16,500 three years ago using a 4-year loan with an interest rate of 7.2 percent. She has decided that she would sell the car now, if she could get a price that would pay off the balance of her loan.

What is the minimum price Rachel would need to receive for her car? Calculate her monthly payments, then use those payments and the remaining time left to compute the present value (called balance) of the remaining loan.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92408595

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