Which of these expressions will give the unpaid balance after 5 years on an $80,000 loan with an APR of 4.8%, compounded monthly, if the monthly payment is $519.17?

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asked Jun 20, 2021 164k views

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Which of these expressions will give the unpaid balance after 5 years on an $80,000 loan with an APR of 4.8%, compounded monthly, if the monthly payment is $519.17?

Mathematics
high-school

Anchit Pancholi asked

by Anchit Pancholi

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Answer: $80,000(1+0.004)^60 + $519.17 [1-(+0.004)^60/0.004]

Explanation:

Mangesh Auti answered Jun 26, 2021

by Mangesh Auti

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