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How much will have after paying bank loan

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You borrowed 20,000 from a local credit union to buy a car. You promised to pay this loan in 5 years. Supppose 3 years into your loan you have decided to sell the car for 10,000. When you sell the car you need to pay the remaining balance on your car. The APR on your loan is 6.75% compounded monthly a) How much money you owe to bank? ) How much will have after paying your bank loan.

Reference no: EM133075046

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