simon's cost for a new computer with accessories was $3120. he made a down payment of $550 in finance the balance on a 24 month fixed payment installment loan. The monthly payments are $111.73. Instead of making his 18th payment, Simon decides to pay the total remaining balance and terminate the loan. How much is interest will Simon save? Simon will save $___ in interest. round to nearest cent
simon's cost for a new computer with accessories was $3120. he made a down payment of $550 in finance the balance on a 24 month fixed payment installment loan. The monthly payments are $111.73. Instead of making his 18th payment, Simon decides to pay the total remaining balance and terminate the loan. How much is interest will Simon save? Simon will save $___ in interest. round to nearest cent
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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simon's cost for a new computer with accessories was $3120. he made a down payment of $550 in finance the balance on a 24 month fixed payment installment loan. The monthly payments are $111.73. Instead of making his 18th payment, Simon decides to pay the total remaining balance and terminate the loan. How much is interest will Simon save?
Simon will save $___ in interest. round to nearest cent
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