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

question 48

Multiple Choice

Use the actuarial method to find the payoff amount for the loan paid in full before its due date.
-Amount Financed: $11,000 Regular Monthly Payment: $231.02
Total Number of Payments scheduled: 60
Loan repaid in full instead of making: 30th payment

• A)$6219.09
• B)$6147.37
• C)$6047.60
• D)$6378.39

Distinguish between process focus, repetitive focus, mass customization, and product focus strategies and their effects on volume, variety, and equipment utilization.

Appreciate the importance of flexibility in equipment and technology selection for process strategies.

Recognize how processes can be designed for environmental friendliness and social responsibility.

Understand the impact of technology on service processes and the customer experience.