Denise took out a loan to buy a She-Shed for her house. She decides to...
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Calculus
Denise took out a loan to buy a She-Shed for her house. She decides to pay the loan back in full before its due date. If she's paying $165.20 monthly at 11.5% APR and still has 30 remaining scheduled payments after the payoff, find each of the following:(a) Obtain the value of h from the table above.(b) Use the actuarial method to find the amount of unearned interest. u = kR (h/100+h) where k is the number of remaining payments and R is the monthly payment.(c) Find the payoff amount. Payoff amount = (k + 1)R-u
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