You financed 10500 and are making regular payments of 28500, Ask an Expert

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You financed $10,500 and are making regular payments of $285.00 over the 4 year life of the loan. You would like to pay off the loan a year early. Calculate the unearned interest by

a) Actuarial Method

b) Rule of 78

c) Using your answer in part a) what would the payoff amount be?

d) Using your answer in part b) what would the payoff amount be?

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M9869309

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