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Home > recreational vehicle information > recreational vehicle Knowledge Base > A retired couple buys a new recreational vehicle (RV) for $26,000. They make a down payment of $13,000 and fin?
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A retired couple buys a new recreational vehicle (RV) for $26,000. They make a down payment of $13,000 and fin?

A retired couple buys a new recreational vehicle (RV) for $26,000. They make a down payment of $13,000 and finance the balance at 9.0% APR over 60 months. Before making the 24th payment, the couple decides to pay the remaining balance on the loan. How much interest will the couple save (use the actuarial method)?

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