Asked by Lucy
Reggie King took out a 36-month fixed installment loan of $26,000.00 at 8.5% APR to open a sporting goods store.
He began making monthly payments of $820.73.
Reggie's business does better than expected and a split second after making his 24th payment, Reggie decides to repay his loan in full.
What is the total amount due to pay off the balance? Use the actuarial method.
$9,389.85
$9,410.28
$9,479.84
$10,231.01
He began making monthly payments of $820.73.
Reggie's business does better than expected and a split second after making his 24th payment, Reggie decides to repay his loan in full.
What is the total amount due to pay off the balance? Use the actuarial method.
$9,389.85
$9,410.28
$9,479.84
$10,231.01
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