Use the Rule of 78 to Find the Amount of Unearned

question 194

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.
-Finance charge: $788 Total number of payments: 22
Remaining number of payments, when paid in full: 7

• A)$65.41
• B)$71.64
• C)$95.52
• D)$87.21

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Definitions:

Egalitarian

A principle or practice that emphasizes the equal rights and opportunities for all people.

Self-definitions

How individuals describe, understand, and perceive themselves, reflecting various aspects of their identity.

Associative Play

A stage of play development in which children play together and are engaged in a similar activity but are not yet working towards a common goal.

Piaget's First Type

Refers to the sensorimotor stage in Piaget's theory of cognitive development, where infants from birth to about 2 years learn through interacting with the environment.