Asked by Jennifer

A farmer buys a new tractor for $38,000. He makes a down payment of $10,000 and finances the balance at 8.5% APR over 48 months. Before making the 12th payment, the farmer decides to pay the remaining balance on the loan. How much interest will the farmer save (use the actuarial method)?

11 years ago

Answered by Jennifer

I need help on this one please

11 years ago

Answered by Ms. Sue

Sorry -- but I know nothing about the actuarial method.

11 years ago

Answered by Jennifer

ok, thanks anyway

11 years ago

There are no AI answers yet. The ability to request AI answers is coming soon!

Submit Your Answer

We prioritize human answers over AI answers.

If you are human, and you can answer this question, please submit your answer.

Asked by Jennifer

Answers

Submit Your Answer

Related Questions