Multiple Choice
Solve the problem using the rule of 78s.
-Carlo has a 36-month fixed installment loan, with a monthly payment of $369.72. The amount he Borrowed was $11,000. Instead of making his 30th payment, Carlo is paying the remaining balance On the loan. What is the total amount due to pay off the balance?
A) $2163.33
B) $1888.04
C) $2515.22
D) $2145.50
Correct Answer:
Verified
Correct Answer:
Verified
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