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You plan to finance the purchase of a $1,200 electric scooter with a 12-month loan at 12% interest with a balance of $816.04 after the fourth payment. What is the final payment amount if you pay off the loan with the fifth payment?

From the information given, since the person purchased a $1,200 electric scooter with a 12-month loan at 12% interest, the amount give repaid will be:

= $1200 + ($1200 × 0.12 × 1)

= $1200 + $144

= $1344

Since the balance of $816.04 is gotten after the fourth payment, the remaining amount will be:

= $1344 - $816.04

= $527.96

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I need help asap You plan to finance the purchase of a $1,200 electric scooter with a 12-month loan at 12% interest with a balance of $816.04 after the fourth payment. What is the final payment amount if you pay off the loan with the fifth payment?

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How to calculate the interest.

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I need help asap
You plan to finance the purchase of a $1,200 electric scooter with a 12-month loan at 12% interest with a balance of $816.04 after the fourth payment. What is the final payment amount if you pay off the loan with the fifth payment?