Solve the problem.
-Julio buys a bike which has a cash price of $280. He puts $30 down, and agrees to pay 12 payments of $24. After 8 payments he gets some birthday money and decides to pay off his loan. Find the unearned interest and the amount to pay off the loan.
A) $5.14, $90.86
B) $7.28, $88.72
C) $3.34, $92.66
D) $4.87, $91.13
Correct Answer:
Verified
Q93: Solve the problem using the loan payoff
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-The unpaid balance in an
