Court and Travis took out a 36 month, $10,000 loan exactly 1…
Court and Travis took out a 36 month, $10,000 loan exactly 1 year ago to buy their 2013 Nissan Maxima. They have faithfully made each monthly payment of $300 each month. The loan was a 36-month loan and they now have $7,000 left on the loan. Court just received an $10,000 bonus at work! She and Travis agree that they should pay off their Maxima loan with some of the extra cash. If they agree to pay off the remaining balance, how much future interest will they avoid paying on the car?