Use the Actuarial Method to Find the Amount of Unearned

question 54

Multiple Choice

Use the actuarial method to find the amount of unearned interest for the loan paid in full before the due date.
-Amount Financed: $12,000 Regular Monthly Payment: $269.98
Total Number of Payments scheduled: 60
Loan repaid in full instead of making: 36th payment

• A)$877.33
• B)$781.46
• C)$740.51
• D)$772.70

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Definitions:

Well-Being

A state of comfort, health, or happiness, often considered in terms of physical, psychological, and social factors.

Chronic Stress

A state of ongoing psychological strain and tension resulting from enduring stressful circumstances over a prolonged period.

Psychoneuroimmunologists

Scientists who study the interaction between psychological processes, the nervous system, and the immune system.

General Adaptation Syndrome

A three-stage response (alarm, resistance, exhaustion) that the body goes through when exposed to prolonged stress.