Use the Rule of 78 to Find the Amount of Unearned

question 196

Multiple Choice

Use the Rule of 78 to find the amount of unearned interest for the loan paid in full before the date of maturity.
-Amount Financed: $6500 Regular Monthly Payment: $201.50
Total Number of Payments scheduled: 48
Loan repaid in full instead of making: 24th payment

• A)$43.69
• B)$2467.35
• C)$776.13
• D)$809.18