You just made your $459 monthly car loan payment and have 22 payments remaining. If your loan rate is at 12% APR, the outstanding balance is $10,241.

Name: You just made your $459 monthly car loan payment and have 22 payments remaining. If your loan rate is at 12% APR, the outstanding balance is $10,241.
Brand: Quizplus
Rating: 4.9 (45 reviews)

Question

Quizplus · Accepted Answer

The outstanding balance calculation involves amortizing the loan, considering the interest rate and remaining payments. The given balance seems incorrect based on typical amortization calculations.

You Just Made Your $459 Monthly Car Loan Payment and Have