Question
Sarah Yost took out a 48-month fixed installment loan of $17,000 to open a gift shop. She began making monthly payments of $423.05. Sarah's business
Sarah Yost took out a 48-month fixed installment loan of $17,000 to open a gift shop. She began making monthly payments of $423.05. Sarah's business does better than expected and instead of making her 12th payment, Sarah decides to repay her loan in full. How much interest willSarah save (use the actuarial method)? $1926.35 $1872.84$2205.29$1907.97
Sarah Yost took out a 48-month fixed installment loan of $17,000 to open a gift shop. She began making monthly payments of $423.05. Sarah's business does better than expected and instead of making her 12th payment, Sarah decides to repay her loan in full. How much interest willSarah save (use the actuarial method)? $1926.35 $1872.84$2205.29$1907.97
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
The Economics Of The Environment
Authors: Peter Berck, Gloria Helfand
1st Edition
978-0321321664, 0321321669
