Suppose you have a 12-month loan of $1,200.00 at 12% interest to purchase a lawn mower and other gardening equipment. Each monthly payment is $106.56. The balance after the fourth payment is $816.04. How

Suppose you have a 12-month loan of $1,200.00 at 12% interest to purchase a lawn mower and other gardening equipment. Each monthly payment is $106.56. The balance after the fourth payment is $816.04. How much do you save by paying off the loan with the fifth payment?

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Suppose you have a 12-month loan of $1,200.00 at 12% interest to purchase a lawn mower and other gardening equipment. Each monthly payment is $106.56. The balance after the four…

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