What will be the outstanding balance

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Reference no: EM132031533

Answer the following question

Tom plans to borrow $20,000 from the dealer using a four-year loan, payable monthly at 8% APR, what will be the loan's monthly payments?

After making the loan's monthly installment payments for 26 months, what will be the outstanding balance?

The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132031533

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