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Posted by on Tuesday, June 24, 2014 at 7:10pm.

A farmer buys a new tractor for $38,000. He makes a down payment of $10,000 and finances the balance at 8.5% APR over 48 months. Before making the 12th payment, the farmer decides to pay the remaining balance on the loan. How much interest will the farmer save (use the actuarial method)?

  • math-help please Ms Sue - , Tuesday, June 24, 2014 at 8:11pm

    I need help on this one please

  • math - , Tuesday, June 24, 2014 at 8:20pm

    Sorry -- but I know nothing about the actuarial method.

  • math - , Tuesday, June 24, 2014 at 8:25pm

    ok, thanks anyway

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