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Laura Kennedy needs to borrow ​$5001 to pay for NBA season tickets for her family. She can borrow the amount from a finance company​ (at 5.9​% ​add-on interest for 3​ years) or from the credit union​ (36 monthly payments of ​$162.64 ​each). Laura takes the credit union loan. At the time of her thirtieth payment she pays it off. If the credit union uses the rule of 78 for computing unearned​ interest, how much will she save by paying off the loan with the thirtieth​ payment?

1 Answer

2 votes

Answer:

Alot

Explanation:

User Duncanmoo
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