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?

Business & Finance
Tutor: None Selected Time limit: 1 Day

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

Apr 20th, 2015

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

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Apr 20th, 2015
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