A $1,900 loan is to be paid off in 12 monthly payments of $182.51. The borrower decides to pay
Off the loan after 9 payments. Use the rule of 78s to find the amount of interest saved.
A) $27.49
B) $22.32
C) $21.29
D) $21.78
Correct Answer:
Verified
Q61: A 25-year-old decides that her goal is
Q62: If you have a $600 balance on
Q63: Kelly bought a new SUV for $28,000.
Q64: Petty Marine Co. has a long-term plan
Q65: Roger borrowed $400.00 for 1 year. His
Q67: As part of her retirement planning, Mrs.
Q68: A $1,600 loan is to be paid
Q69: Stephen purchased a diamond engagement ring for
Q70: As part of his retirement planning, Mr.
Q71: Suppose you plan to work right after
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents