Friday
May 29, 2015

Homework Help: Math

Posted by SSS on Sunday, August 3, 2014 at 5:40pm.

I'm having a bit of trouble with the following problem. Thanks!

Kevin bought a new car for $22,000. He made a down payment of $5,500 and has monthly payments of $406.69 for 4 years. He is able to pay off his loan at the end of 30 months. Using the actuarial method, find the unearned interest and payoff amount.

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