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Find the Monthly Payment and Estimate the Remaining Balance (To $9900\$ 9900

Question 57

Multiple Choice

Find the monthly payment and estimate the remaining balance (to the nearest dollar) . Assume interest is on the unpaidbalance.
-5 year car loan for $9900\$ 9900 at 2.85%2.85 \% ; remaining balance after 4 years.


A) $177.23;$4130\$ 177.23 ; \$ 4130
B) $532.86;$2031\$ 532.86 ; \$ 2031
C) $1069.24;$1942\$ 1069.24 ; \$ 1942
D) $177.23;$2094\$ 177.23 ; \$ 2094

Correct Answer:

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