Question
Jana borrows $47,100 and agrees to make 60 monthly payments of $995. She pays the debt in full in 52 months. What is the amount
Jana borrows $47,100 and agrees to make 60 monthly payments of $995. She pays the debt in full in 52 months. What is the amount needed to pay her loan in full using the rule of 78?
Step by Step Solution
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To calculate the amount needed to pay Janas loan in full using the rule of 78 we first need to deter...
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Smith and Roberson Business Law
Authors: Richard A. Mann, Barry S. Roberts
15th Edition
1285141903, 1285141903, 9781285141909, 978-0538473637
