Use the actuarial method to find the payoff amount for the loan paid in full before its due date. -Amount Financed: $11,000 Regular Monthly Payment: $231.02 Total Number of Payments scheduled: 60 Loan

Use the actuarial method to find the payoff amount for the loan paid in full before its due date.
-Amount Financed: $11,000 Regular Monthly Payment: $231.02
Total Number of Payments scheduled: 60
Loan repaid in full instead of making: 30th payment
A)$6219.09
B)$6147.37
C)$6047.60
D)$6378.39

Leave a Reply

Your email address will not be published.