josephmartinelli5
josephmartinelli5
20.10.2021 • 
Mathematics

A retired couple buys a new recreational vehicle (RV) for $42,000.00. They make a down payment of $13,000.00 and finance the balance at 9.0% APR over 60 months.
Their monthly payment is $601.99.
Before making the 12th payment, the couple decides to pay the remaining balance on the loan.
Use the actuarial method to determine how much interest the couple will save.

Solved
Show answers

Ask an AI advisor a question