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judith purchased a motorcycle for $7600. he had a 10% down payment and financed the remainder owed for 36 months at 6% instead of making his18th payment he pays off the loan. What is the amount of his unearned interest

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jepessoa

Answer:

she saved $171 in interests

Explanation:

the price of the motorcycle was $7,600 and Judith made a $760 down payment. So she financed $6,840 and her monthly payment was approximately $208. If she paid the full balance on the 18th payment, her payment = $3,672 (principal) + $19 (interests) = $3,691

By doing so, she saved $171 in interests, as calculated by the attached amortization schedule.

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