Andres Michael bought a new boat. He took out a loan for $23,980 at 3.75% interest for 4 years. He made a $4,470 partial payment at 4 months and another partial payment of $3,180 at 9 months. How much is due at maturity?

To determine the due amount at maturity, we should follow these steps:

1. Calculate the interest for the loan by multiplying the principal amount with the interest and years: interest = principal * interest rate * years
2. Calculate the remaining principal amount after all partial payments.
3. Add the remaining principal amount and the interest.

Now, let's start to solve the problem step by step:

1. interest = 23980 * 0.0375 * 4 = $3597
2. remaining_principal = 23980 - 4470 - 3180 = $16330
3. due_at_maturity = remaining_principal + interest = $16330 + $3597 = $19927

There will be $19,927 due at maturity.

To find out how much is due at maturity, we need to calculate the remaining balance on the loan.

Step 1: Calculate the monthly interest rate
The annual interest rate is 3.75%. To find the monthly interest rate, divide it by 12 (number of months in a year):
3.75% / 12 = 0.3125%

Step 2: Calculate the total number of months in the loan term
Since the loan term is 4 years, multiply it by 12 to get the total number of months:
4 years * 12 months/year = 48 months

Step 3: Calculate the monthly payment
To calculate the monthly payment, we can use the loan formula:
P = (r * PV) / (1 - (1 + r)^(-n))

Where:
P = monthly payment
r = monthly interest rate (in decimal form)
PV = present value of the loan
n = total number of monthly payments

Plugging in the given values:
r = 0.3125% (0.003125 in decimal form)
PV = $23,980
n = 48

P = (0.003125 * 23980) / (1 - (1 + 0.003125)^(-48))
P ≈ $563.04

So, the monthly payment is approximately $563.04.

Step 4: Calculate the remaining balance after 4 months

To find the remaining balance, we need to subtract the partial payment made at 4 months from the original loan amount:
Remaining balance = $23,980 - $4,470 = $19,510

Step 5: Calculate the remaining balance after 9 months

Again, subtract the partial payment made at 9 months from the remaining balance:
Remaining balance = $19,510 - $3,180 = $16,330

Therefore, the amount due at maturity is $16,330.

To find out how much is due at maturity, we need to calculate the remaining loan balance after the partial payments and the interest accumulated over the loan term.

First, let's calculate the remaining loan balance after the first partial payment at 4 months.

Loan amount: $23,980
Partial payment: $4,470

Remaining loan balance at 4 months = Loan amount - Partial payment
= $23,980 - $4,470
= $19,510

Next, let's calculate the remaining loan balance after the second partial payment at 9 months.

Remaining loan balance at 4 months: $19,510
Partial payment: $3,180

Remaining loan balance at 9 months = Remaining loan balance at 4 months - Partial payment
= $19,510 - $3,180
= $16,330

Now, let's calculate the interest accumulated over the loan term.

Loan amount: $23,980
Interest rate: 3.75%
Loan term: 4 years

Interest = Loan amount * Interest rate * Loan term
= $23,980 * 0.0375 * 4
= $3,588.75

Finally, let's calculate the total amount due at maturity, which is the remaining loan balance after the second partial payment plus the accumulated interest.

Total amount due at maturity = Remaining loan balance at 9 months + Interest
= $16,330 + $3,588.75
= $19,918.75

Therefore, the amount due at maturity is $19,918.75.