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What is the outstanding balance after 9 payments of 15,000, 3,300, 11,200, and 26,033?

1 Answer

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Final answer:

To find the outstanding balance after the specified payments, sum the payments made and subtract from the initial balance. The question doesn't provide the initial loan amount, so only the sum of payments, $55,533, is calculated. The outstanding balance cannot be determined without the initial loan amount.

Step-by-step explanation:

To calculate the outstanding balance after 9 payments of different amounts, you can simply add up the payments and subtract the total from the initial loan amount. However, it seems there might be an error in the phrasing of the question since it is asking for the outstanding balance after 9 payments but provides only 4 payment amounts. Assuming you meant to ask for the outstanding balance after making these four exact payments, let's proceed with the calculation.

First, add the four payments together:

  • $15,000
  • $3,300
  • $11,200
  • $26,033

Next, we'll assume there was an initial balance or loan amount that these payments were applied toward, which isn't specified in the question. Furthermore, the question does not mention whether interest applies, which could significantly affect the balance. Ignoring interest and any potential initial loan amount, the total sum of the payments made is simply the addition of those four amounts.

Total payments = $15,000 + $3,300 + $11,200 + $26,033 = $55,533.

Without knowing the initial balance, it is impossible to calculate the outstanding balance. Please provide the initial loan amount to determine the remaining balance after these payments have been made.

User Akash D
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