Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller

Exercise 55

Roberto and Julie Hernandez are struggling to make their monthly payments. They accumulated too much debt, which was easy to do with two young kids at home. Julie works 30 hours a week and takes care of the two kids. Their credit history had been poor, but Roberto took on a second job during the evenings and they have been making payments regularly for 8 months.
After discussing things with Jackie Waterton at Citibank, the Hernandez's have learned that they can (1) refinance the remaining $14,900 amount on the Honda Accord at 12 over 4 years, (2) refinance the remaining $8600 loan amount on the Ford truck at 12 over 3 years, (3) refinance the remaining $94,800 loan amount on their home at 8 over 30 years, and (4) reduce their car insurance payments by $28 per month. Complete the following table.