Multiple Choice
Solve the problem using the rule of 78s.
-Veronica used a fixed installment loan from her bank to finance her new car purchase. She Borrowed $26,000 and has a 60 monthly payments of $585.00 each. Instead of making her 49th Payment, Veronica decides to pay the remaining balance on the loan. What is the total amount due To pay off the balance?
A) $5801.46
B) $6152.23
C) $6691.80
D) $6106.80
Correct Answer:
Verified
Correct Answer:
Verified
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