A retired couple buys a new recreational vehicle (RV) for $ 54 comma 000.00. They make a down payment of $13,000 and finance t

Question

3 years ago

10

A retired couple buys a new recreational vehicle (RV) for $ 54 comma 000.00. They make a down payment of $13,000 and finance t

he balance at 9.0% APR over 60 months. Before making the 36th payment, the couple decides to pay the remaining balance on the loan. How much interest will the couple save (use the actuarial method)?

Business

1 answer:

pashok25 [27] · Answer 1 · 2022-07-05T23:34:47+03:00

Answer:

Interest saved by the couple = $3497.12

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Explanation:

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A retired couple buys a new recreational vehicle​ (RV) for $ 54 comma 000.00. They make a down payment of​ $13,000 and finance t

A retired couple buys a new recreational vehicle (RV) for $ 54 comma 000.00. They make a down payment of $13,000 and finance t