Kevin Bought a New Car For $\$ 22,000$ He Made a Down Payment Of 22,000

Multiple Choice

Kevin bought a new car for $\$ 22,000$ . He made a down payment of $\$ 10,000$ and has monthly payments of $\$ 295.78$ for 4 years. He is able to pay off his loan at the end of 30 months. Using the actuarial method, find the unearned interest and payoff amount.

A) u = $341.78; payoff amount: $5619.73
B) u = $375.95; payoff amount: $5805.74
C) u = $375.95; payoff amount: $4750.15
D) u = $341.78; payoff amount: $5278.04