What will the balance due be under the rule of 78 method

Reference no: EM131287411

1. Glenn had an auto loan of $4,500 at 7% annual interest for 3 years. He decides to pay off the remaining balance after he has made 29 payments. What will the balance due be under the rule of 78 method?

2. What will Glenn's balance be if he has made 20 payments and decides to pay the rest in one lump sum at the 21st payment? Suppose that his lender is following the level method.

Reference no: EM131287411

Questions Cloud

How much interest will she pay in total : How long will it take Kate to pay for the same purchase if the minimum payment is changed to 3% of the outstanding balance of $3,750 but the interest rate is raised to 23%? How much interest will she pay in total?

A sales manager at a large electronics store : Suppose you are a sales manager at a large electronics store like Best Buy. What can you do to ensure that your customers are satisfied with the service they have received?

Explain the purpose or thesis of the paper : Explain the purpose or thesis of the paper; specifically identify the two organizations that you have selected; and explain how the body of the paper is arranged to support the purpose of the paper.

What is the result of asking for fewer commitments : What happens to relationships when you ask for commitments you haven't earned?What is the result of asking for fewer commitments than you really need during a sales interaction?

What will the balance due be under the rule of 78 method : What will Glenn's balance be if he has made 20 payments and decides to pay the rest in one lump sum at the 21st payment? Suppose that his lender is following the level method.

Why would gillette use a company sales force : What are some of the potentially ethically troubling and illegal situations facing professional salespeople, and how should they deal with them?

How team will apply custom definition to academic experience : As a team provide a custom and unique definition of the word collaboration. Explain how the team will apply the custom definition to the academic experience and beyond.

Analyze the advantages and disadvantages of the objective : Analyze the advantages and disadvantages of the objective and subjective bases used to evaluate your performance.

How to identify someones individual paradigm or interests : What three factors best describe how to identify someone's individual paradigm or interests? What process should we use to decide which factors to use to determine their individual paradigm or interests?

User Account

All Pages