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HELP Gilbert Morales has a car loan of $195 per month at 8% annual interest rate. He would like to pay off the car three years early. How much will his payoff be? A=M⎛⎝1−1(1+m)q⎞⎠m A. $7,020.00 B. $6,220.
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HELP

Gilbert Morales has a car loan of $195 per month at 8% annual interest rate. He would like to pay off the car three years early. How much will his payoff be?
A=M⎛⎝1−1(1+m)q⎞⎠m
A. $7,020.00
B. $6,220.00
C. $4,680.00
D. $560.00

User Fuyushimoya
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1 Answer

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the answer is A.  i hope this helps! 
User Toomasr
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