A farmer buys a new tractor for 35000 he makes a down, Ask an Expert

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A farmer buys a new tractor for $35,000. He makes a down payment of $10,000 and finances the balance of 8.5% APR over 48 months. Before making the 12th payment, the farmer decides to pay the remaining balance on loan. How much interest will the farmer save (use the actuarial method)?

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Financial Management, Finance

Category:- Financial Management
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