What interest rate are you being charged

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Reference no: EM132053803

1. Alfredo Medina has 36 months left on his car loan. His loan payments which are at 7% interest are $600 per month. He pays an additional $1200 with his next regular payment to reduce the time left to pay on the loan. How much time will be reduced?

2. You borrow $320,000; the annual loan payments are $23,247.65 for 30 years. What interest rate are you being charged? Round your answer to two decimal places.

____%

3. Explain the advantages and disadvantages of EOQ?

Reference no: EM132053803

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