question archive You borrow $5000 on August 22nd this year
You borrow $5000 on August 22nd this year
Subject:FinancePrice:2.86 Bought3
You borrow $5000 on August 22nd this year. Your loan carries an interest rate of 8.41% simple interest. You make partial payments of $500 on September 15th and $1575 on October 17th. You want to make a final payment to pay off the remaining outstanding balance on November 21st. What is the size of your final payment?
3010.11
4487.88
4178.90
3345.26
