Charlene just bought her dream car a 2011 porsche carrera, Ask an Expert

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Charlene just bought her dream car, a 2011 Porsche Carrera GTS Cabriolet that cost $125,000. She paid $20,000 down and financed the balance over 72 months at 6.5% p.a. (Assume that Charlene makes all required payments are made on time).

What will the balance on Charlene's loan be at the end of the fourth year (that is, immediately after Charlene makes her 48th payment on the loan)?

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Category:- Basic Finance
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