Answer:
96
Step-by-step explanation:
The loan duration is for 8 years, a total of 12·8 = 96 monthly payments. The 96th payment is the balloon payment.
$8,750
(25000*.35)
Multiply
Estimated would be 700 x 80
Take a look at the attachment to see the solution.
A = future value
P = principal (P = 12,000)
r = interest rate (r=6)
n = time periods (n=12)