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# How to do the calculation in details?

How to do the calculation in details?

·      You purchase a new car for for \$33,333. What is the outstanding balance on the loan after you make the second payment if you have a 5-year loan with monthly payments and an interest rate of 7.84%. (Round your answer to the nearest integer)

·      B. \$32,877

·      C. \$31,957

·      D. \$32,419

·      You take out a loan for \$3500 at an annual interest rate of 6%. You must pay back the loan in 48 monthly installments. How much of the principal is paid in the second installment ?

·      B. \$71

·      C. \$64.70

·      D. \$65.02

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You take out a loan for \$3500 at an annual interest rate of 6%. You must pay back the loan in 4 annual installments. How much of the principal is still outstanding after you make the first payment? (Round your answers to nearest integer)

·      B. \$2,700

·      C. \$3,710

·      D. \$3,490

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