Use the Actuarial Method to Find the Amount of Unearned

question 3

Multiple Choice

Use the actuarial method to find the amount of unearned interest for the loan paid in full before the due date.
-Regular Monthly Payment: $236.11 APR: 10%
Remaining Number of Scheduled Payments After Payoff: 6

• A)$128.68
• B)$42.26
• C)$73.67
• D)$40.46

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Definitions:

Medial Cuneiform

One of the bones in the foot, specifically located on the medial side of the midfoot contributing to the arch of the foot.

Metatarsal

Any of the five long bones in the foot located between the ankle and toe bones, contributing to the foot's arch.

Proximal Phalanx

The bone in the fingers or toes that is closest to the hand or foot and forms the base of the digit.

Visceral Pleura

The inner layer of pleura that closely covers the lungs and enters into the fissures between the lobes of the lungs.