Chris borrowed $7,500 TO BUILD A GARAGE. He agrees to pay $475 a month for 24 months
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Chris borrowed $7,500 TO BUILD A GARAGE. He agrees to pay $475 a month for 24 months but pays off the loan in 18 months. What is the amount of unearned interest? What is the amount needed to repay the loan using the rule of 78. Show work to support your answers.
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To calculate the amount of unearned interest and the amount needed to repay the loan using the rule ... View the full answer
Related Book For 
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
Posted Date:
