After making a down payment of $6000 for an automobile, Molly paid $600 per month for 36 months with interest charged at 6% per year compounded monthly on the unpaid balance. 1. How much did Molly pay...

After making a down payment of $6000 for an automobile, Molly paid $600 per month for 36 months with interest<br>charged at 6% per year compounded monthly on the unpaid balance.<br>1. How much did Molly pay towards the principal of the loan on the car? (1. Write the formula, fill in the formula,<br>do not solve. 2. Use TVM solver to solve)<br>Work Here:<br>1. The formula if you had to use it:<br>2. TVM:<br>N= FV=<br>1%= P/Y=C/Y=<br>PV= end<br>PMT=<br>Answer Here:<br>

Extracted text: After making a down payment of $6000 for an automobile, Molly paid $600 per month for 36 months with interest charged at 6% per year compounded monthly on the unpaid balance. 1. How much did Molly pay towards the principal of the loan on the car? (1. Write the formula, fill in the formula, do not solve. 2. Use TVM solver to solve) Work Here: 1. The formula if you had to use it: 2. TVM: N= FV= 1%= P/Y=C/Y= PV= end PMT= Answer Here:

Jun 04, 2022

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After making a down payment of $6000 for an automobile, Molly paid $600 per month for 36 months with interest charged at 6% per year compounded monthly on the unpaid balance. 1. How much did Molly pay...

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