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Payoff Amount Assignment

Author:
February 18th, 2020

Jim wants to buy a car which is priced at $20,000 by putting down 10% down and borrowing the rest from his credit union on a 4- year, 6% loan (monthly payments). If after making the first 4 payments, Jim decides to refinance the loan at a lower interest rate, use an amortization schedule to determine Jim’s payoff amount? Please show work.Get Finance homework help today

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