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The loan below was paid in full before its due date. (a) Obtain the value of h from the annual percentage rate table. Then (b) use the actuarial method to find the amount of unearned interest, and (c) find the payoff amount. Regular Monthly Payment $494.14 APR 4.0% Remaining Number of Scheduled Payments after Payoff 12 Click the icon to view the annual percentage rate table. (b) The unearned interest is $(Round to the nearest cens as needed) (c) The payoff amount is $(Round to the nearest cent as needed)

The loan below was paid in full before its due date. (a) Obtain the value of h from the annual percentage rate table. Then (b) use the actuarial method to find the amount of unearned interest, and (c) find the payoff amount. Regular Monthly Payment $494.14 APR 4.0% Remaining Number of Scheduled Payments after Payoff 12 Click the icon to view the annual percentage rate table. (b) The unearned interest is $(Round to the nearest cens as needed) (c) The payoff amount is $(Round to the nearest cent as needed)

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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The loan below was paid in full before its due date. (a) Obtain the value of h from the annual percentage rate table. Then (b) use the actuarial method to find the amount of unearned interest, and (c) find the payoff amount. Regular Monthly Payment $494.14 APR 4.0% Remaining Number of Scheduled Payments after Payoff 12 Click the icon to view the annual percentage rate table (b) The unearned interest is $(Round to the nearest cent as needed) (c) The payoff amount is 5 (Round to the nearest cent as needed)
Transcribed Image Text:The loan below was paid in full before its due date. (a) Obtain the value of h from the annual percentage rate table. Then (b) use the actuarial method to find the amount of unearned interest, and (c) find the payoff amount. Regular Monthly Payment $494.14 APR 4.0% Remaining Number of Scheduled Payments after Payoff 12 Click the icon to view the annual percentage rate table (b) The unearned interest is $(Round to the nearest cent as needed) (c) The payoff amount is 5 (Round to the nearest cent as needed)
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