What is balance remaining to pay on loan after two years

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Reference no: EM131907466

George Costanza has just taken out an $23,936.00, 60-month car loan from his local bank with a 6.84% interest rate compounded monthly. At the end of the second year, George plans on making a $3,444.00 payment directly to the loan’s principal and then to keep on making his regular monthly payments.

What is the balance remaining to pay on the loan after two years?

Reference no: EM131907466

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