Solve the problem.For what type of computation are the actuarial method and the rule of 78s used? Which technique requires the use of an APR table?
What will be an ideal response?
The actuarial method and the rule of 78s are methods used to calculate the unearned interest when a fixed installment loan is paid off early. The actuarial method requires an APR table whereas the rule of 78s does not.
Mathematics
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