Multiple Choice
Solve the problem using the rule of 78.
-Dallas Wright took out a 48-month fixed installment loan of $6250 to purchase a new all-terrain vehicle (ATV) . He began making monthly payments of $212.50. Instead of making his 28th
Payment, Dallas decides to repay his loan in full. How much interest will Dallas save?
A) $1821.43
B) $665.34
C) $32.25
D) $705.36
Correct Answer:
Verified
Correct Answer:
Verified
Q135: Solve the problem.<br>-The average cost of a
Q136: Solve the problem. Assume that simple interest
Q137: Use the actuarial method to find the
Q138: Solve the problem. Use an annual percentage
Q139: <span class="ql-formula" data-value="\$ 8000"><span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML"><semantics><mrow><mi
Q141: $900 at 3% for 1 year<br>A)$27<br>B)$270<br>C)$3.00<br>D)$2.70
Q142: Find the total monthly payment, including taxes
Q143: Use the actuarial method to find the
Q144: Solve the problem.<br>-The cash price of a
Q145: Solve the problem. Round to the nearest