Jean-Claude Bubose will be the best man at his friend's wedding. To pay for plane fare, gifts, and other expenses, he took a $1,800 installment loan. The loan is for 12 months at 8% interest with a $156.60 monthly payment. After 8 months, the balance is $615.87 , and he pays off the loan when the next payment is due. a) What is the amount of the final payment? b) How much does he save by paying the loan off early?
