Raven W.

asked • 03/22/16

Interest help

James borrowed $700.00 to purchase an Apple watch and an IPad mini. The loan required 24 monthly payments of $35.00. However, he paid off the loan in 16 payments. How much did he save by paying it off early?

1 Expert Answer

By:

Ron G. answered • 03/22/16

Tutor
4.4 (26)

Multiple levels Math, Science, Writing

See tutors like this
See tutors like this
Sorry, Raven. Can't solve this one unless we know how much his 16 payments were. He still had to account for the interest, and most loans have you paying off interest before principal.
Upvote • 0 Downvote
More
Report

Raven W.

Well there has to be an answer. I wouldn't think my college professor would give me problems that couldn't possibly be answered. Thanks. 
Report

03/22/16

Still looking for help? Get the right answer, fast.

Ask a question for free

Get a free answer to a quick problem.
Most questions answered within 4 hours.

OR

Find an Online Tutor Now

Choose an expert and meet online. No packages or subscriptions, pay only for the time you need.