Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. you are the loan department supervisor for a bank.

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

90.2K

Verified Solution

Question

Finance

image
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 Payment Made Rebate Fraction Finance Charge Rebate Loan Payoff $4,600 36 $162.33 32 $

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Geometry
1.2K views

If AXYZ ARST find the value of x X 5r 3 X type your answer...

Basic Math
1.2K views

Racism, juries, and interactions: In a study of racism, Nail, Harton, and Decker (2003) had participants...

Chemistry
1.2K views

Consider a titration involving 40.0 mL of 0.100 M ammonia , NH3 (in an Erlenmeyer flask)with...

Physics
1.2K views

A small charged particle q lies at the centre of two concentric conducting hollow spheres...

Physics
1.2K views

BHOLE RAJWARDHAN SANJAY Question 11 From a solid cylinder 150mm in diameter and 220mm height...

Geometry
1.2K views

1 2 3 4 D 8 9 3 3x R 5 Find the length of...

Basic Math
1.2K views

Olivia's mom is ordering cupcakes for Olivia's birthday. A pack of 6 cupcakes from Baked...

Algebra
1.2K views

Sally can paint a room in 9 hours while it takes Steve 7 hours to...

Accounting
1.2K views

The general ledger of Ryan Racing at January 1,2024, includes the following account balances: ...

Accounting
1.2K views

Rachel (45) contributed $4,000 to a Roth 401(k) during 2019. If she waits until age...

Accounting
1.2K views

Bob Ltd signs a contract on 1 April 2018 to build an office building. The...

Finance
1.2K views

Patricia Johnson received a graduation present of $2,000 that she is planning on investing in...