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: $12,000 Regular Monthly Payment: $269.98
Total Number of Payments scheduled: 60
Loan repaid in full instead of making: 36th payment
A) $877.33
B) $781.46
C) $740.51
D) $772.70
Correct Answer:
Verified
Correct Answer:
Verified
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