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You are the loan department supervisor for a bank. This installment loan is being paid off early, and it is your task to calculate the
You are the loan department supervisor for a bank. This installment loan is being paid off early, and it is your task to calculate the rebate fraction, the finance charge rebate (in $), and the payoff for the loan (in $). (Round dollars to the nearest cent.)
Amount Financed | Number of Payments | Monthly Payment | Payments Made | Rebate Fraction | Finance Charge Rebate | Loan Payoff |
---|---|---|---|---|---|---|
$4,700 | 36 | $164.33 | 31 | $ | $ |
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