What the ending principal balance is on the loan

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Reference no: EM131912391

Suzie purchased a nice car when she graduated (two years ago) for $28,000. Similar cars are now selling for $12,000. She has kept up with the maintenance and has noticed that the maintenance costs approximately $35 per month. She makes monthly car payments on a $25,000 loan, at 6.5% annual interest over 72 month.

Compute Suzie Jo’s monthly car payments and figure out what the ending principal balance is on the loan at the end of the second year.

Reference no: EM131912391

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