Multiple Choice
Use the Rule of 78 to find the payoff amount for the loan paid in full before the date of maturity.
-Amount Financed: $25,000 Regular Monthly Payment: $656.25
Total Number of Payments scheduled: 48
Loan repaid in full instead of making: 27th
A) $12,504.46
B) $13,379.78
C) $13,160.71
D) $12,571.14
Correct Answer:
Verified
Correct Answer:
Verified
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