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After finding the APR % how much interest will Ray flagg save by paying off the loan early?( use the actuarial method) and finally what
After finding the APR % how much interest will Ray flagg save by paying off the loan early?( use the actuarial method) and finally what is the total amount due to pay off the loan?
Ray Flagg took out a 60-month foxed installment loan of $12,000 to open a new pet store. He paid no money down and began meking monthly payments of $232. Riry's business dos bettec than expected and instend of moking his 36 th payment, Ray wishes to repay his loan in ful. Complete parts a) through t). Click the icon to view the table of interebt rates. a) Detemine the APR of the installment loan. APR= table of interest rates Step by Step Solution
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