Solved

Use the Actuarial Method to Find the Amount of Unearned

Question 3

Multiple Choice

Use the actuarial method to find the amount of unearned interest for the loan paid in full before the due date.
-Regular Monthly Payment: $236.11 APR: 10%
Remaining Number of Scheduled Payments After Payoff: 6


A) $128.68
B) $42.26
C) $73.67
D) $40.46

Correct Answer:

verifed

Verified

Related Questions

Q1: Solve the problem. Round to the nearest

Q2: Solve the problem.<br>-Use the inflation proportion

Q4: Solve the problem. Assume that simple interest

Q5: $1660 at 6% for 4 months<br>A)$398.40<br>B)$33.20<br>C)$24.90<br>D)$3320.00

Q6: Find the total return earned by

Q7: Solve the problem. Use the Annual

Q8: Jerry's Bank charges 1.3% per month on

Q9: Solve the problem.<br>-Joe is buying some kitchen

Q10: The following problem involves adjustable-rate mortgage. You

Q11: Solve the problem.<br>-Tony and Barb decide to