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You are the $). (Round dollars to the nearest cent.) Amount Number of Monthly Payments Financed Payments Payment Made $4,600 36 $163.33 31 Rebate Fraction 15/120 X Finance Charge Rebate $1279.88 x $ 657 Loan Payoff x

You are the $). (Round dollars to the nearest cent.) Amount Number of Monthly Payments Financed Payments Payment Made $4,600 36 $163.33 31 Rebate Fraction 15/120 X Finance Charge Rebate $1279.88 x $ 657 Loan Payoff x

Essentials Of Investments
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
Section: Chapter Questions
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You are the loan department supervisor for a bank. This installment loan is being paid off early, and it’s your task to calculate the rebate fraction, the finance charge rebate (in $), and the payoff for the loan (in $). (Round to the nearest cent)
You are the loan department supervisor 181 $). (Round dollars to the nearest cent.) Amount Number of Monthly Financed Payments Payment $4,600 36 $163.33 Payments Made 31 Rebate Fraction 15/120 Finance Charge Rebate x $1279.88 $ 657 Loan Payoff x
Transcribed Image Text:You are the loan department supervisor 181 $). (Round dollars to the nearest cent.) Amount Number of Monthly Financed Payments Payment $4,600 36 $163.33 Payments Made 31 Rebate Fraction 15/120 Finance Charge Rebate x $1279.88 $ 657 Loan Payoff x
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