Flagg took out a 60-month installment loan of $12000 to open a new pet store. He paid not money dow and began making monthly payments of $221. Ray's business does better than expected and instead of making his 36" payment, Ray wishes to repay his loan in full. 4.69 Intregt raté a.) Determine the APR of the installment loan. b.) How much interest will Ray save by paying off his loan early? c.) What is the total amount due to pay off his loan?

Flagg took out a 60-month installment loan of $12000 to open a new pet store. He paid not money dow and began making monthly payments of $221. Ray's business does better than expected and instead of making his 36" payment, Ray wishes to repay his loan in full. 4.69 Intregt raté a.) Determine the APR of the installment loan. b.) How much interest will Ray save by paying off his loan early? c.) What is the total amount due to pay off his loan?

Elementary Geometry For College Students, 7e

7th Edition

ISBN:9781337614085

Author:Alexander, Daniel C.; Koeberlein, Geralyn M.

Publisher:Alexander, Daniel C.; Koeberlein, Geralyn M.

Chapter8: Areas Of Polygons And Circles

Section8.CR: Review Exercises

Problem 40CR: Sue and Daves semicircular driveway is to be resealed, and then flowers are to be planted on either...

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