Use the Rule of 78 to find the amount of unearned interest for the loan paid in full before the date of maturity.
-Amount Financed: $6500 Regular Monthly Payment: $201.50
Total Number of Payments scheduled: 48
Loan repaid in full instead of making: 24th payment
A) $43.69
B) $2467.35
C) $776.13
D) $809.18
Correct Answer:
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