Enrique has a 60-month fixed installment loan, with a monthly payment of $77.86. The amount he borrowed was $3500. Instead of making his 36th payment, Enrique is paying the remaining balance on the loan. How much interest will Enrique save (use the actuarial method)
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Home » Business » Enrique has a 60-month fixed installment loan, with a monthly payment of $77.86. The amount he borrowed was $3500. Instead of making his 36th payment, Enrique is paying the remaining balance on the loan.