Statistics Help
Question: Aaron Carson of Hays, Kansas, obtained a two-year installment loan for $1,500 to buy some furniture eight months ago. The loan had a 12.6 percent APR and a finance charge of $204.72. His monthly payment is $71.03. Aaron has made eight monthly payments and now wants to pay off the remainder of the loan. The lender will use the rule of 78s method to calculate a prepayment penalty. Edit
TutorTeddy.com & Boston Predictive Analytics
[ Email your Statistics or Math problems to help@teddycan.com (camera phone photos are OK) ]
Boston Office (Near MIT/Kendall 'T'):
Cambridge Innovation Center,
One Broadway, 14th Floor,
Cambridge, MA 02142,
Phone: 617-395-8864
Dallas Office (Near Galleria):
15950 Dallas Parkway,
Suite 400,
Dallas, TX 75248,
Phone: 866-930-6363