SOLUTION: You got a big bonus at work, and a raise. Instead of making the thirty-sixth payment on your truck, you decide to pay the remaining balance and terminate the loan.
a. Use the actu
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-> SOLUTION: You got a big bonus at work, and a raise. Instead of making the thirty-sixth payment on your truck, you decide to pay the remaining balance and terminate the loan.
a. Use the actu
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Question 50933: You got a big bonus at work, and a raise. Instead of making the thirty-sixth payment on your truck, you decide to pay the remaining balance and terminate the loan.
a. Use the actuarial method to determine how much interest will be saved(the unearned interest, u) by repaying the loan early.
b.Find the payoff amount. Answer by stanbon(75887) (Show Source):
(