Xavier Martinez took out a $5,000 loan at 7.5% interest for reconstructing his patio. His monthly payment on the 12-month loan was $437.26. After 6 payments, the balance was $2,556.03. He paid off the loan with the next payment. What did he save by paying off the loan early?

Question

anonymous · Answer

Get the total dept first then subtract it with 2,556.03.

anonymous · Answer

my answer didnt match :/

anonymous · Answer

Am i supposed to multiply all the numbers?

anonymous · Answer

Give me a min to draw the steps.

anonymous · Answer

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