Determine the unearned interest and the amount necessary, Finance Basics

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Determine the unearned interest and the amount necessary

Problem

Caria Juarez bought a computer system for $1600. She made a down payment of $160 and arranged to make 23 monthly payments of $73.04. After making 14 payments she decided to pay the |oan in full. Use the Rule of 78 to determine the unearned interest and the amount necessary to pay the loan in full.

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Finance Basics: Determine the unearned interest and the amount necessary

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