Kelly bought a new SUV for $28,000. She made a down payment of $11,000 and has monthly payments of $332.63 for 5 years. She is able to pay off her loan at the end of 36 months. Using the actuarial method, find the unearned interest and payoff amount?

Answer rating: 100% (QA)

Calculating Unearned Interest and Payoff Amount using the Actuarial Method We can use the following ... View the full answer