Multiple Choice
Use the Rule of 78 to find the payoff amount for the loan paid in full before the date of maturity.
-Finance charge: $800 Total number of payments: 46
Amount per payment: $100
Remaining number of payments, when paid in full: 7
A) $784.46
B) $779.28
C) $679.28
D) $684.46
Correct Answer:

Verified
Correct Answer:
Verified
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