1: Angelo Gomez has a car loan of $315 per month at 6% annual interest rate. He would like to pay off the car two years early. About how much will his payoff be?
A=M(1−1(1+m)q)m
A. $450.00
B. $3,780.00
C. $7,110.00
D. $7,560.00

2. Inez Alexander has a car loan of $425 per month at 5.5% annual interest rate. About HOW MUCH WILL SHE SAVE if she pays the car off one year early?
A=M(1−1(1+m)q)m

Question

1: Angelo Gomez has a car loan of $315 per month at 6% annual interest rate. He would like to pay off the car two years early. About how much will his payoff be?
A=M(1−1(1+m)q)m
	A.	$450.00
	B.	$3,780.00
	C.	$7,110.00
	D.	$7,560.00

2. Inez Alexander has a car loan of $425 per month at 5.5% annual interest rate. About HOW MUCH WILL SHE SAVE if she pays the car off one year early?
A=M(1−1(1+m)q)m

anonymous · Answer

on 1 I think A but I am not sure sorry