Levi Stein’s 18-month, $6,500 loan has a 12% interest rate. His monthly payment is $396.38. After making payments for 9 months, the loan balance is $3,395.43. How much will Levi save if he pays off the loan early? EXPLAIN WORK AND STEPS FOR THE BRAINLIEST ANSWER!!

the answer is 200

step-by-step explanation:

the way the question is worded, it seems to imply the $264 interest is simple interest, not compound interest.

the simple interest for 2 years is $264; the simple interest for 1 year is $132.

$132 interest on a $600 investment means an interest rate of (132/600)*100 = 22%.

the value of $200 at 22% interest compounded annually for three years is

200%281.22%29%5e3

the amount of interest is that value, minus the original $200.

i will pick c put check it over to be sure

step-by-step explanation:

make sure you have version 2.50

try looking in the very back of the book : )

step-by-step explanation:

you can download it here