On January 31, 20X1, Goose Industries made its first monthly installment loan payment of $356.00. If Goose's annual interest rate on this loan is 12% and the original loan balance was $16,004, what is the ending loan balance after the payment on January 31st (rounding to the nearest cent)? 

O $15,808.04 O $14,439.52 O $15,843.96 O $15,648.00  None of the above

Answer rating: 100% (QA)

To calculate the ending loan balance after the payment on January 31 20x1 we can use the loan amorti... View the full answer