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Kevin bought a new car for $22,000. He made a down payment of $9,500 and has monthly payments of $308.10 for 4 years. He is
Kevin bought a new car for $22,000. He made a down payment of $9,500 and has monthly payments of $308.10 for 4 years. He is able to pay off his loan at the end of 30 months. Using the actuarial method, find the unearned interest and payoff amount.
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