03 May I Have A Car Loan With A Company That Refunds Interest Using The Rule Of 78 When Paid In Full …
(1) 47 month loan paid in full after 33 months. Find the refund fraction used to calculate the amount of refund.
(2) I have a car loan with a company that refunds interest using the rule of 78 when paid in full ahead of schedule. i will use my bones to pay off my car which is on a 41 month loan. The total interest for the loan is 2318 and I have 16 more payments to make. How much finance charge will i get credit for if i pay the loan in full immediately?
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