asked 63.9k views
13 votes
Scott DuBois took out a simple interest loan of $1,800.00 for home repairs. The loan is for 12 months at 8 percent interest with a payment of $156.60. After 8 months, the balance is $615.87. He pays off the loan when the next payment is due. What is the final payment? How much is saved by paying the loan off early?​

asked
User Bkanuka
by
8.6k points

1 Answer

5 votes

Answer: It's $619.98

answered
User Ivan Bartsov
by
8.0k points
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