Multiple Choice
Use the actuarial method to find the amount of unearned interest for the loan paid in full before the due date.
-Amount Financed: $2500 Regular Monthly Payment: $55.61
Total Number of Payments scheduled: 60
Loan repaid in full instead of making: 36th payment
A) $151.61
B) $173.24
C) $153.34
D) $146.95
Correct Answer:

Verified
Correct Answer:
Verified
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