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Author Question: Anna Levandowski took out a 4,000 simple interest loan at 8 interest for 24 months to buy a wave ... (Read 125 times)

ss2343

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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.


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jasonq

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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

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Reply 2 on: Jun 24, 2018
Gracias!

xthemafja

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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