Doreen Short was looking over the repayment schedule for a loan of $40,000.00 at 9% interest for 4 years with a monthly
payment of $995.40. Find the final payment and amount
saved if:
a. the loan is paid off with payment 30 with a previous
balance of $17,565.74.
b. the loan is paid off with payment 36 with a loan balance
of $12,285.66.
c. the loan is paid off with payment 48 with a previous
balance of $988.09.