Solve the Problem Using the Rule of 78

Multiple Choice

Solve the problem using the rule of 78.
-Caroline Jones took out a 48-month fixed installment loan of $21,000 to open a restaurant. She began making monthly payments of $520.63. Caroline's business does better than expected and
Instead of making her 24th payment, Caroline decides to repay her loan in full. What is the total
Amount due to pay off the balance?

A) $11,477.14
B) $12,280.54
C) $11,997.77
D) $11,518.72