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Matt Brawn bought a diamond engagement ring for $11,600. His down payment was $3800. The balance was to be paid off in 12 monthly payments
Matt Brawn bought a diamond engagement ring for $11,600. His down payment was $3800. The balance was to be paid off in 12 monthly payments of S689.39. Matt was able to pay off his loan at the end of 6 months. Using the actuarial method, find the uneamed interest and the payoff amount. Refer to the APR table; Annual Percentage Bote, as needed
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