You are the loan department supervisor for a bank. This installment loan is being paid off...

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
$1,700	18	$128.89	13	-	$	$

Expert Solution

ekkarill92 answered 2 years ago

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