Monthly Flower Delivery

The owner of a flower shop wants to repay the loan on a used delivery van that was purchased 10 months ago. The payment plan of 2 years used to purchase the van included a financial charge of $ 300 and called for payments of $ 240 per month. What is the amount required to repay the loan?

The total amount of the loan would be the financial burden and 24 monthly payments of $ 240:
$ 300 + $ 24 x 240 = $ 6,060

The owner has already paid the charges and 10 months of payments:
$ 300 + $ 10 x 240 = $ 2,700

What remains to pay?
6060 - 2700 = 3360

The shortcut would be to make the owner has 14 months of payments left:
14 x $ 240 = $ 3,360

Answer:
$ 3.360

since the problem does not interest rates, we know that the financial burden has been either an upfront fee, or in proportion to the duration of the loan. The initial charge should also have been mentioned in the problem, so lets assume the charge is prorated. 24 months ago in terms of two years and $ 300 in total, you must pay each month for 12.50 funding

We know that the total cost was (240 * 24) -300 = 5460 and we paid 10 (240 to 12.50) = 2275 of the amount as well as 5460-2275 = 3185 is the amount left on the price initial purchase, assuming that there is no penalty for prepayment.

To test it, see if more than 14 payments of 240 to 12.50 Total 3185. Yes, it's done.