Derek borrows $294,313.00 to buy a house. He has a 30-year mortgage with a rate of...

Derek borrows $294,313.00 to buy a house. He has a 30-year mortgage with a rate of 5.87%. After making 126.00 payments, how much does he owe on the mortgage?

Derek borrows $42,453.00 to buy a car. He will make monthly payments for 6 years. The car loan has an interest rate of 6.33%. What will the payments be?

Derek borrows $33,200.00 to buy a car. He will make monthly payments for 6 years. The car loan has an interest rate of 6.35%. After a 14.00 months Derek decides to pay off his car loan. How much must he give the bank?

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Expert Solution

Derek borrows $294,313.00 to buy a house. He has a 30-year mortgage with a rate of 5.87%. After making 126.00 payments, how much does he owe on the mortgage?

$242160.94

Derek borrows $42,453.00 to buy a car. He will make monthly payments for 6 years. The car loan has an interest rate of 6.33%. What will the payments be?

$710.20

$27692.53

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

jeff jeffy answered 1 year ago

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