This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Anna Levandowski took out a 4,000 simple interest loan at 8 interest for 24 months to buy a wave ... (Read 75 times)

ss2343

  • Hero Member
  • *****
  • Posts: 548
on: Jun 24, 2018
Anna Levandowski took out a 4,000 simple interest loan at 8 interest for 24 months to buy a wave runner. Her monthly payment is 180.91. After making payments for 9 months, her balance is 2,574.21. She decides to pay the loan off with her next payment. How much will her final payment be? How much interest will she save?

Question 2

Vincent Pancozzi borrowed 750 on a one-year simple interest loan at 17 interest. The monthly payments were 63.57. Find the amount of interest, amount applied to the principal, and the new balance for the first monthly payment.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jasonq

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jun 24, 2018
Answer to Question 1

2,589.66, 123.99

Answer to Question 2

10.63, 52.94, 697.06


ss2343

  • Member
  • Posts: 548
Reply 2 on: Jun 24, 2018
Excellent

Alyson.hiatt@yahoo.com

  • Member
  • Posts: 354
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

The FDA recognizes 118 routes of administration.

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Models of simple transposition and replicative 3′ transposition Models of simple transposition and replicative 3′ transposition
How to calculate simple interest (Part 5; r = I/Pt) How to calculate simple interest (Part 5; r = I/Pt)
Simple Decorating Techniques: Stencils Simple Decorating Techniques: Stencils
A non-interest-bearing five-year note for $54600.00 issued May 1, 2015, is discounted April 1, ... A non-interest-bearing five-year note for $54600.00 issued May 1, 2015, is discounted April 1, ...
Determine the nominal annual rate of interest of the following ordinary general annuity. Determine the nominal annual rate of interest of the following ordinary general annuity.
Video: Carpal Tunnel Syndrome

For a complete list of videos, visit our video library