23blumevi 23blumevi

16-12-2021
Mathematics

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Adam Bergman took out a $3500 simple interest loan at 12% interest for 18 months. His monthly payment is 213.44. After making payments for 12 months, his balance is 1,236.93. He decides to pay the loan off with his next payment. How much will his final payment be? How much interest will he save ?

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phidanas phidanas

22-12-2021

Answer: $ 1,249.30 final payment $31.34 saved

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