Denise took out a loan to buy a She-Shed for her house. Shedecides to pay the loan back in full before its due date. If she’spaying $165.20 monthly at 11.5% APR and still has 30 remainingscheduled payments after the payoff, find each of thefollowing:
(a) Obtain the value of h from the tableabove.
(b) Use the actuarial method to find the amount ofunearned interest. 𝑢 = 𝑘𝑅 ( h ) 100+h
where k is the number of remaining payments and R is the monthlypayment.
(c) Findthepayoffamount.Payoffamount=(𝑘+1)𝑅−𝑢
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
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answerhappygod
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