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12. Francisco purchased a 2010 model sedan for $24,999. The dealership offered him a $199/month payment for 48 months, after which the unpaid balance is due. If the interest rat…

12. Francisco purchased a 2010 model sedan for $24,999. The dealership offered him a $199/month payment for 48 months, after which the unpaid balance is due. If the interest rat…
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14 votes
12. Francisco purchased a 2010 model sedan for $24,999. The dealership offered him a

$199/month payment for 48 months, after which the unpaid balance is due. If the interest rate is
6%, find the balloon payment due at the end of 48 months.

asked
User Sic
by
8.7k points

1 Answer

5 votes

Answer:

21,194.49

Explanation:

I'm assuming that the 6% is a nominal interest rate

12. Francisco purchased a 2010 model sedan for $24,999. The dealership offered him-example-1
answered
User Emin Laletovic
by
7.4k points
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