Jeslie Ann has a 48-month installment loan with a fixed monthly payment of $83.81. The amount she

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Jeslie Ann has a 48-month installment loan with a fixed monthly payment of $83.81. The amount she borrowed was $3500. Instead of making her 18th payment, Jeslie Ann is paying the remaining balance on the loan.

(a) Determine the APR of the installment loan.7.0%

(b) How much interest will Jeslie Ann save by paying off the loan early?

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A Survey of Mathematics with Applications

ISBN: 978-0134112107

10th edition

Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde

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Question Posted: Jan 28, 2019 07:41 AM

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Jeslie Ann has a 48-month installment loan with a fixed monthly payment of $83.81. The amount she

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838148 402288 402288 350000 52288 a 522883500100 1494 per 100 From Table 102 1494 for 48 mont...View the full answer

A Survey of Mathematics with Applications

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