Time remaining:
6-month loan of 1,500 at 12% with a balance of 435.85 after the fourth payt. what is the final pay?

label Business
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

payment if the loan is paid off with the fifth payment?

Oct 21st, 2017

After the 4th payment there are 2 months left on the loan.

But the loan will be paid off in full the next month on the balance of 435.85

Therefore,

The final payment will be  435.85(1 + 0.12/12)^2 = $444.61

Apr 20th, 2015

Studypool's Notebank makes it easy to buy and sell old notes, study guides, reviews, etc.
Click to visit
The Notebank
...
Oct 21st, 2017
...
Oct 21st, 2017
Oct 22nd, 2017
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer