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you purchased a car for $120,000 which will paid in equal monthly payments of $1576.1 over...

  1. you purchased a car for $120,000 which will paid in equal monthly payments of $1576.1 over 12 years. The annual interest rate you are charged is 12%.

           

a. How much of your second monthly payment will go the repayment of1) principal. 2) interest (use an amortization schedule or table).

            b. what will the remaining balance be on the loan after he makes the 40th payment (Show me the financial calculator’s inputs).

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SOLVED WITH BA II PLUS FINANCIAL CALCULATOR

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