The cash prise for furniture for all rooms of a threebed-room house is $6611. The Iumiture can be nanced by paying 51000 down and $217 per month for...

#9 Hello, I am having problems with this problem and would like your assistance to better understand.

There are two answers needed. Please read below.

1.) Use the actuarial method to determine how much interest will be saved by repaying the loan early. Saved interest = $___ (Example: $234.82)

2.) Use the rule of 78 to determine how much interest will be saved by repaying the loan early. Saved interest = $____(Example: $219.01)

The cash prise for furniture for all rooms of a three—bed-room house is $6611. The Iumiture can be financed by paying 51000 down and $217 per month for 30 months. However, instead ofmaking the eighteenth payment the borrower decides to pay the remaining balance and terminate the ban for the fumilure. A. Use the actuarial method no determine how mud! interest wiH be saved by repaying the loan eariy. Saved Interest = $ N...“ Ann-Immune Kiln-ill] "m Flaw-III: 111.11%. 111.1% 11.5: 1159‘. um 12.19. um: [I'll-ea filpwr'mfllh-mnlm) a 12.94 5m $323 13.1! $353 31.9! km11 5.50 m 6.06 5.34 532 m 7.151.! 1m 1132 3.93 9.215 1m 1m mma 11115 1131: 1155 11.12 ms 11511 min30 M 11.13 14.111 15.54 15.24 15.95 17.6535 was 11.01 17.95 13.71 1957 21m 1131)