A $1750 Loan Is to Be Paid Off in 66

question 89

Multiple Choice

A $1750 loan is to be paid off in 66 monthly payments of $42.40. The borrower decides to pay off the loan after 30 payments. Use the rule of 78s to find the amount of interest saved.

• A) $315.80
• B) $320.97
• C) $314.77
• D) $315.26

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