Question

Zubair Habib has been making payments on his 14% motorcycle loan for what seems like forever! Zubair made a payment June 1. His balance after that payment was $1,492.33. Zubair just got a $3,000 bonus from his employer and decides to use part of the money to pay off the loan on June 18. Calculate the payoff amount.

$1,492.33

$1,502.06

$1,482.60

$1,502.63

Answer 1

B.) 1,502.06

Explanation:

18-1=17

1492.33*14%*(17/365)+=9.731

1492.33+9.731= 1502.061 Don't round up.

I assume you're in Buss Math with me, trust me man this stuff is easy if you read the text book it shows you everything. Not to mention she gives out the textbook answers and you can use their examples to help.