Question: Calculate the missing information for the installment loan that is being paid off early. Number of Payments Payments Made Payments Remaining Sum-of-the- Digits Payments

Calculate the missing information for the installment loan that is being paid

Calculate the missing information for the installment loan that is being paid off early. Number of Payments Payments Made Payments Remaining Sum-of-the- Digits Payments Remaining Sum-of-the- Digits Number of Payments Rebate Fraction 18 4 Submit Answer -/7.14 Points] DETAILS BRECMBC9 13.11.042. MY NOTES ASK YOUR TEACHER 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 Monthly Payments Payments Rebate Payment Made Fraction $4,900 36 $167.33 28 [-/7.14 Points] DETAILS BRECMBC9 13.11.050. +A Finance Charge Rebate 69 Loan Payoff MY NOTES ASK YOUR TEACHER Tim Houston purchased a wall unit for $2,200. He made a $800 down payment and financed the balance with an installment loan for 48 months. If Tim's payments are $43.50 per month, use the APR formula to calculate what annual percentage rate he is paying on the loan. (Round your answer to two decimal places.) %

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