Felixwants to finish paying off the remainder of his car, Ask an Expert

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Felix'wants to finish paying off the remainder of his car loan is 48 payments (monthly). His total loan amount is currently $19,500 and is growing at a constant rate of 5.75% APR (compounded annually). What is the amount that Felix will have to pay each month in order to reach a $0 balance on his 48th payment?

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Financial Management, Finance

Category:- Financial Management
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