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The loan given in the table was paid off early. Find the unearned interest by (a) the actuarial method, and (b) the rule of
The loan given in the table was paid off early. Find the unearned interest by (a) the actuarial method, and (b) the rule of 78. Amount Financed Regular Monthly Payments Total Number of Payments Scheduled $29,770 $647.92 60 Remaining Number of Scheduled Payments After Payoff 12 Click the icon to see the APR table. (a) The unearned interest calculated using the actuarial method is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to the nearest cent as needed.) (b) The unearned interest calculated using the rule of 78 is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to the nearest cent as needed.) Data table - Number of Monthly Annual Percentage Rate (APR) for Monthly Payment Loans Annual Percentage Rate (APR) Payments (n) 8.0% 8.5% 9.0% 9.5% 10.0% 10.5% 11.0% 11.5% 12.0% 12.5% 13.0% 13.5% 14.0% (Finance charge per $100 of amount financed) (h) 6 12 4.39 18 6.45 24 8.55 9.09 30 10.66 11.35 $2.35 $2.49 $2.64 $2.79 $2.94 $3.08 $3.23 $3.38 $3.53 $3.68 $3.83 $3.97 $4.12 4.66 4.94 5.22 5.50 5.78 6.06 6.34 6.62 6.90 7.18 7.46 7.74 6.86 7.28 7.69 8.10 8.52 8.93 9.35 9.77 9.64 10.19 10.75 11.30 11.86 12.42 12.98 13.54 14.10 14.66 15.23 12.04 12.74 13.43 14.13 14.83 15.54 16.24 16.95 17.66 18.38 19.10 10.19 10.61 11.03 11.45 36 48 60 12.81 13.64 14.48 15.32 16.16 17.01 17.86 18.71 19.57 20.43 21.30 22.17 23.04 17.18 18.31 19.45 20.59 21.74 22.90 24.06 25.23 26.40 27.58 28.77 29.97 31.17 21.66 23.10 24.55 26.01 27.48 28.96 30.45 31.96 33.47 34.99 36.52 38.06 39.61
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