Use the Actuarial Method to Find the Amount of Unearned

question 246

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: $316.37 APR: 10.2%
Remaining Number of Scheduled Payments After Payoff: 20

• A)$585.60
• B)$503.03
• C)$531.17
• D)$614.07