Manny bought a new car for $22,000. The dealership offered a $199/month payment for 36 months, after which the unpaid balance is due. What is the balloon payment due at the end of 36 months (3 years) if the interest rate is 6%? Use the Fixed Payments tab on
Step-by-step explanation: First I multiplied $199*36 which equaled 7164. I then multiplied this by .06 for the 6% interest rate which equaled $429.84. I added both of these numbers together and got $7593.84
