Adam Bergman took out a 3,500 simple interest loan at 12 interest for 18 months. His monthly payment ...

Adam Bergman took out a 3,500 simple interest loan at 12 interest for 18 months. His monthly payment is 213.44. After making payments for 12 months, his balance is 1,236.93. He decides to pay the loan off with his next payment. How much will his final payment be? How much interest will he save?

Q. 2

Anna Levandowski took out a 4,000 simple interest loan at 8 interest for 24 months to buy a wave runner. Her monthly payment is 180.91. After making payments for 9 months, her balance is 2,574.21. She decides to pay the loan off with her next payment. How much will her final payment be? How much interest will she save?

Q. 3

Vincent Pancozzi borrowed 750 on a one-year simple interest loan at 17 interest. The monthly payments were 63.57. Find the amount of interest, amount applied to the principal, and the new balance for the first monthly payment.

Q. 4

Find the exact interest from October 2 to October 20 on 1,100 borrowed at 8 interest using the daily interest factor.