Question: Caleb is expected to settle a loan on March 4th, 2019 by paying $5,500. What amount should he pay if he decides to settle it

Caleb is expected to settle a loan on March 4th, 2019 by paying $5,500. What amount should he pay if he decides to settle it on May 21st, 2018 instead? The interest rate is 4.81% compounded monthly.

Round to the nearest cent

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