Carla Juarez bought a computer system for $1600. She made a down payment of $160 and...

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Carla Juarez bought a computer system for $1600. She made a down payment of $160 and arranged to make 23 monthly payments of $73.04. After making 14 payments she decided to pay the loan in full. Use the Rule of 78 to determine the unearned interest and the amount necessary to pay the loan in full. The unearned interest is $ . (Round to the nearest cent.) Carla Juarez bought a computer system for $1600. She made a down payment of $160 and arranged to make 23 monthly payments of $73.04. After making 14 payments she decided to pay the loan in full. Use the Rule of 78 to determine the unearned interest and the amount necessary to pay the loan in full. The unearned interest is $ . (Round to the nearest cent.)

Answer rating: 100% (QA)

To determine the unearned interest using the Rule of 78 we need to calculate the proportion of the l... View the full answer