Use the Rule of 78 to Find the Amount of Unearned

question 126

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: $4500 Regular Monthly Payment: $184.50
Total Number of Payments scheduled: 36
Loan repaid in full instead of making: 18th payment

• A)$632.47
• B)$549.97
• C)$593.97
• D)$520.20

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Definitions:

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Unwritten rules and expectations about how to behave in society, guiding behaviors and actions within specific contexts.

Demeanor

The outward behavior or bearing of an individual, often influencing how they are perceived by others.

Descriptive Studies

Research methods focused on describing characteristics of a population or phenomenon being studied without attempting to infer causations.

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The extent to which the results of a study can be generalized to other situations, settings, or populations.