consumer loan of 1000 is being repaid with 24 monthly installments of 50 at the end of each month. Rather than making payments as originally scheduled, the borrower repaid the outstanding principal immediately after the 10th regular installment. Determine the unearned finance charge recovered by the borrower. A. 200.00 B.116.65 C. 83.35 D. 73.40 E. 67.85

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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A consumer loan of 1000 is being repaid with 24 monthly installments of 50 at the end of each month. Rather than making payments as originally scheduled, the borrower repaid the outstanding principal immediately after the 10th regular installment.

Determine the unearned finance charge recovered by the borrower.

A. 200.00

B.116.65

C. 83.35

D. 73.40

E. 67.85

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