Eric is paying $39 per week to pay off a loan for $14,568.
How many weeks will he have to make payments to pay off the loan? How much will his last payment be?
$14,560 / $39 = 373.3333 weeks
$39.00 X 373 weeks = $14,547
$14,560 - $14,547 = $21.00
373 weeks to pay off the loan and the last week will be a payment of $21.00
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wk pmt ...
Given a total loan amount, the payments were calculated including the last payment amount.