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

question 26

Multiple Choice

Use the actuarial method to find the payoff amount for the loan paid in full before its due date.
-Amount Financed: $26,000 Regular Monthly Payment: $820.73
Total Number of Payments scheduled: 36
Loan repaid in full instead of making: 18th payment

• A)$14,645.55
• B)$13,824.82
• C)$13,759.76
• D)$13,927.01

---

Definitions:

Nonsuicidal Self-injurious Behavior

Behaviors intended to cause harm to one’s own body without the intention of suicide, often as a coping mechanism.

Communication Skills

The ability to convey or share ideas, feelings, and information effectively through verbal, non-verbal, written, and visual channels.

Self-critical

The tendency to evaluate oneself harshly, often focusing on perceived flaws or mistakes.

Panic Disorder

A type of anxiety disorder characterized by sudden and repeated episodes of intense fear accompanied by physical symptoms.