Time remaining:
simple interest statistic

label Statistics
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

Andres bought a new boat. He took out loan for $24,000 at 3.75% interest for 2 years. He made a $4000 partial payment at 2 months and another payment of $2950 at 6 months. How much is due at maturity?

Oct 20th, 2017

Principal 24000
Rate 0.0375
Interest for 2 months 150
Amount after 2 months 24150
First payment 4000
Amount after 1st payment 20150
Interest for 4 months 251.875
Amount after 6 months 20401.875
Second  payment 2950
Amount after 2nd payment 17451.875
Interest for 18 months 981.6679688
Amount due 18433.54297

Nov 23rd, 2014

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