Question

Three years ago, you purchased a car and financed your purchase
with a five-year loan at 8% per annum. You were making monthly
payments of $811.00 on the car loan and you have just made your
36^{th} monthly payment today. The amount of your
*original* loan is **closest** to:

$25,880.

$38,857.

$40,000.

$48,660.

Answer #1

The loan value is closest to **$40000**

**Please comment if you face any difficulty and please
dont forget to upvote**

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