A $16,500 truck loan is to be paid off in 60 monthly installments of $317.50. The borrower decides to pay off the loan on his 42nd payment. Find the amount of interest saved in the payoff amount.

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08-07-2024
Mathematics

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A $16,500 truck loan is to be paid off in 60 monthly installments of $317.50. The borrower decides to pay off the loan on his 42nd payment. Find the amount of interest saved in the payoff amount.

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