Post a New Question

Business Math

posted by on .

Joanne Flynn bought a new boat for $16,200. She put a $2,800 down payment on it. The bank’s loan was for 50 months. Finance charges totaled $5,380.00. Assume Joanne decided to pay off the loan at the end of the 22th month. (Rule of 78)

What rebate would she be entitled to and what would be the actual payoff amount? (Do not round intermediate calculations. Round your answers to 2 decimal places. Omit the "$" sign in your response.)

  • Business Math - ,

    Please note that no one here will do your work for you. However, we will be happy to read over what YOU THINK and make suggestions and/or corrections.

    Please post what you think.

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question