Question

When Maria Acosta bought a car 2.5 years ago, she borrowed $10,000 for 48 months at 7.8% compounded monthly. Her monthly payments are $243.19, but she'd like to pay off the loan early. How much will she owe just after her payment at the 2.5 year mark? (Round your answer to the nearest cent.)

Answer 1

at the 2.5 year mark
i = .078/12 = ....
n = 2.5(12) = 30

follow the same steps I just showed you in your next post