Use the Actuarial Method to Find the Payoff Amount for the Loan

question 117

Multiple Choice

Use the actuarial method to find the payoff amount for the loan paid in full before its due date.
-Regular Monthly Payment: $417.31 APR: 12%
Remaining Payments After Payoff: 36

• A)$13,830.91
• B)$12,302.72
• C)$12,981.63
• D)$12,891.96

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