document.write( "Question 1035865: Susan borrowed $5000. The terms of the loan were equal monthly payments at Susan 12% compounded monthly for 3 ysears. After making payments for 1 year,Susan decided to pay off the balance of the loan. A) what was susans monthly payment.B) how much must Susan pay at the end of 1 year to pay off the balance of the loan.C)How much interest did Susan save by repaying the loan in 1 year. \n" ); document.write( "
Algebra.Com's Answer #650470 by Aldorozos(172)\"\" \"About 
You can put this solution on YOUR website!
There are two ways to solve this problem. One is to use the Future Value problem. It is time consuming to solve it this in this format. One easy way to solve this problem is to use Amortization Table. If you go to the following site http://www.calculator.net/amortization-calculator.html\r
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\n" ); document.write( "\n" ); document.write( "and put the information: this is what you get:
\n" ); document.write( "Beginning Balance Interest Principal Ending Balance
\n" ); document.write( "1 $5,000.00 $50.00 $116.07 $4,883.93
\n" ); document.write( "2 $4,883.93 $48.84 $117.23 $4,766.70
\n" ); document.write( "3 $4,766.70 $47.67 $118.40 $4,648.29
\n" ); document.write( "4 $4,648.29 $46.48 $119.59 $4,528.70
\n" ); document.write( "5 $4,528.70 $45.29 $120.78 $4,407.92
\n" ); document.write( "6 $4,407.92 $44.08 $121.99 $4,285.93
\n" ); document.write( "7 $4,285.93 $42.86 $123.21 $4,162.71
\n" ); document.write( "8 $4,162.71 $41.63 $124.44 $4,038.27
\n" ); document.write( "9 $4,038.27 $40.38 $125.69 $3,912.58
\n" ); document.write( "10 $3,912.58 $39.13 $126.94 $3,785.63
\n" ); document.write( "11 $3,785.63 $37.86 $128.21 $3,657.42
\n" ); document.write( "12 $3,657.42 $36.57 $129.50 $3,527.92
\n" ); document.write( "year 1 end
\n" ); document.write( "13 $3,527.92 $35.28 $130.79 $3,397.13
\n" ); document.write( "14 $3,397.13 $33.97 $132.10 $3,265.03
\n" ); document.write( "15 $3,265.03 $32.65 $133.42 $3,131.61
\n" ); document.write( "16 $3,131.61 $31.32 $134.75 $2,996.85
\n" ); document.write( "17 $2,996.85 $29.97 $136.10 $2,860.75
\n" ); document.write( "18 $2,860.75 $28.61 $137.46 $2,723.29
\n" ); document.write( "19 $2,723.29 $27.23 $138.84 $2,584.45
\n" ); document.write( "20 $2,584.45 $25.84 $140.23 $2,444.22
\n" ); document.write( "21 $2,444.22 $24.44 $141.63 $2,302.59
\n" ); document.write( "22 $2,302.59 $23.03 $143.04 $2,159.55
\n" ); document.write( "23 $2,159.55 $21.60 $144.47 $2,015.07
\n" ); document.write( "24 $2,015.07 $20.15 $145.92 $1,869.15
\n" ); document.write( "year 2 end
\n" ); document.write( "25 $1,869.15 $18.69 $147.38 $1,721.77
\n" ); document.write( "26 $1,721.77 $17.22 $148.85 $1,572.91
\n" ); document.write( "27 $1,572.91 $15.73 $150.34 $1,422.57
\n" ); document.write( "28 $1,422.57 $14.23 $151.84 $1,270.73
\n" ); document.write( "29 $1,270.73 $12.71 $153.36 $1,117.36
\n" ); document.write( "30 $1,117.36 $11.17 $154.90 $962.46
\n" ); document.write( "31 $962.46 $9.62 $156.45 $806.02
\n" ); document.write( "32 $806.02 $8.06 $158.01 $648.01
\n" ); document.write( "33 $648.01 $6.48 $159.59 $488.41
\n" ); document.write( "34 $488.41 $4.88 $161.19 $327.23
\n" ); document.write( "35 $327.23 $3.27 $162.80 $164.43
\n" ); document.write( "36 $164.43 $1.64 $164.43 $0.00
\n" ); document.write( "year 3 end \r
\n" ); document.write( "\n" ); document.write( " \n" ); document.write( "
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