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| rev | Admin | (Created page with "Scott takes out a loan with 29 annual payments of $450 each. With the14th payment, Scott pays an extra $1,400, and then pays the balance in 8 years with revised annual payments. The annual effective interest rate is 11%. Calculate the amount of the revised payment. <ul class="mw-excansopts"><li>$2,359.45</li><li>$356.75</li><li>$288.09</li><li>$154.8</li><li>$255.31</li></ul> {{cite web |url=https://digitalcommons.calpoly.edu/cgi/viewcontent.cgi?article=1008&context=...") | Nov 22'23 at 10:13 | +644 |