Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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Suppose you take out a 36-month installment loan to finance a delivery van
for $26,100. The payments are $987 per month, and the total finance
charge is $9,432.
After 25 months, you decide to pay off the loan. After calculating the finance
charge rebate, find your loan payoff (in $). (Round your answer to the
nearest cent.)
$ 7975
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Transcribed Image Text:Suppose you take out a 36-month installment loan to finance a delivery van for $26,100. The payments are $987 per month, and the total finance charge is $9,432. After 25 months, you decide to pay off the loan. After calculating the finance charge rebate, find your loan payoff (in $). (Round your answer to the nearest cent.) $ 7975
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