The loan given in the table was paid off early. Find the unearned interest by (a) the actuarial method, and (b) the rule of 78.

Amount Financed: $29850

Regular Monthly Payments: $641.58

Total Number of Payments Scheduled: 60

Remaining Number of Scheduled Payments After Payoff: 12

Question

The loan given in the table was paid off early. Find the unearned interest by​ (a) the actuarial​ method, and​ (b) the rule of 78.

Amount Financed: $29850
	
Regular Monthly Payments: $641.58
	
Total Number of Payments Scheduled: 60
	
Remaining Number of Scheduled Payments After Payoff: 12
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joshiscool · Answer

@JacoptimalRBLX

anonymous · Answer

Hmm, gimme a sec to work this out.

joshiscool · Answer

@JacoptimalRBLX are you gonna answer

joshiscool · Answer

@JacoptimalRBLX he's gone so nvm

anonymous · Answer

Had to eat.

anonymous · Answer

I don't really think I can help with this.

joshiscool · Answer

Oh. xD

joshiscool · Answer

What did you have to eat.

anonymous · Answer

I made some green beans, and tuna spaghetti with Parmesan.

joshiscool · Answer

@JacoptimalRBLX  That even sounds good