Lesson 8.4 Installment Loans - Monthly Payment Allocation
Warm-Up
If you are financing a $25,000 car, and you put down 5% of the total price. How much are you financing? What if your interest is 2.75%, how much interest would you be paying on the total price of the car?
Lesson 8.4 Installment Loans Monthly Payment Allocation
Chapter 8 Loans
Lesson 8.4 Installment Loans Monthly Payment Allocation
Learning Target
Students will be able to calculate the payment to interest, payment to principal, and new balance.
Essential Question
How do you allocate installment loan payments?
Lesson 8.4 Installment Loans Monthly Payment Allocation
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