Posted by **Hira** on Friday, April 15, 2011 at 2:40pm.

Jennifer has a 60-month fixed installment loan, with a monthly payment of $223.04. The amount she borrowed was $11,000. Instead of making her 36th payment, Jennifer is paying the remaining balance on the loan. What is the total amount due to to pay off the balance (use the actuarial method).

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