Solve the Problem

question 126

Multiple Choice

Solve the problem. Use an annual percentage rate table if necessary.
-Sarah Yost took out a 48-month fixed installment loan of $17,000 to open a gift shop. She began Making monthly payments of $423.05. Sarahʹs business does better than expected and instead of Making her 12th payment, Sarah decides to repay her loan in full. How much interest will Sarah Save (use the actuarial method) ?

• A) $1872.84
• B) $1926.35
• C) $2205.29
• D) $1907.97

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Definitions:

Pennate

Refers to a type of muscle fiber arrangement where fibers are attached obliquely to a central tendon, resembling a feather structure.

Inferior Oblique

A muscle in the orbit that acts as one of the extraocular muscles, contributing to the movement of the eye, particularly in the upward and outward direction.

Lateral Rectus

A muscle in the eye responsible for moving the eyeball outward, away from the midline of the body.

Superior Oblique

A cranial muscle that moves the eyeball downward and outward, involved in rotary movements of the eye.