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Walter Lane took out a simple interest loan of $3,000 at 10% interest for 18 months. After four payments the balance is $2,530.20. He pays off the loan when the next payment is …

Walter Lane took out a simple interest loan of $3,000 at 10% interest for 18 months. After four payments the balance is $2,530.20. He pays off the loan when the next payment is …
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Walter Lane took out a simple interest loan of $3,000 at 10% interest for 18 months. After four payments the balance is $2,530.20. He pays off the loan when the next payment is due. What is the interest?

User Murki
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1 Answer

4 votes
The interest Is $21.09
Your welcome :)
User Facetoe
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