Question

Part KSimplify the expression in part h following the five payments what is the net change in the loan amount from Quiana's viewpoint

Answer 1

Calculate the expression:

$\begin{gathered} (-1)(-1)(1237.15) \\ (-1)^2(1237.15) \\ 1\cdot1237.15 \\ 1237.15 \end{gathered}$

If the original loan was $15234.68. If the total payments add $1237.15, we can calculate the remaining loan as:

$15234.68-1237.15=13997.53$

The net change is equal to -1237.15 as this is the amount the loan decrease before and after the payments.

Answer:

Payments: $1237.15

Net change in the loan: $-1237.15.