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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 24
Solve the following application problems.
Mock Construction bought a truck and financed $7400 with 48 monthly payments of $228.14 each. Suppose the firm pays the loan off with 12 payments left. Use the Rule of 78 to find (a) the amount of unearned interest and (b) the amount necessary to pay off the loan. __________
Mock Construction bought a truck and financed $7400 with 48 monthly payments of $228.14 each. Suppose the firm pays the loan off with 12 payments left. Use the Rule of 78 to find (a) the amount of unearned interest and (b) the amount necessary to pay off the loan. __________
Explanation
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This is a problem of finding the amount...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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