A Truck Costing $111,000 Is Paid Off in Monthly Installments

question 48

Multiple Choice

A truck costing $111,000 is paid off in monthly installments over four years with 8.10% APR. After three years the owner wishes to sell the truck. What is the closest amount from the following list that he needs to pay on his loan before he can sell the truck?

• A) $24,956
• B) $37,434
• C) $31,195
• D) $43,673

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