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Willie took out a simple interest loan of $6,000 at 10% interest for 24 months. His monthly payment is $276.60. After 4 payments the balance is $5028.21. He pays off the loan wh…

Willie took out a simple interest loan of $6,000 at 10% interest for 24 months. His monthly payment is $276.60. After 4 payments the balance is $5028.21. He pays off the loan wh…
asked 15.6k views
5 votes
Willie took out a simple interest loan of $6,000 at 10% interest for 24 months. His monthly payment is $276.60. After 4 payments the balance is $5028.21. He pays off the loan when the next payment is due. What is the interest?

asked
User WhatsUp
by
8.1k points

1 Answer

4 votes
1.000 dollars and 52 cents

answered
User Amit Nanaware
by
7.8k points
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