Rick took out a 10 year loan for $60,000 at an APR of 6%, compounded monthly. What will his balance be after he has made exactly half of his monthly payments?

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Unanswered
Tags
Categories
Ask a Question

asked Jun 22, 2018 163k views

0 votes

Rick took out a 10 year loan for $60,000 at an APR of 6%, compounded monthly. What will his balance be after he has made exactly half of his monthly payments?

Mathematics
high-school

Yupma asked

by Yupma

6.1k points

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

0 votes

Answer: 34,455.59

Explanation:

Ashish Kumar Saxena answered Jun 29, 2018

by Ashish Kumar Saxena

5.5k points

0 Comments

Please log in or register to add a comment.

Ask a Question

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

6.7m questions

8.8m answers

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

Answer: 34,455.59

0 Comments

Please log in or register to add a comment.

Other Questions