May finances a refrigerator for $1,250 by taking out an installment loan for 48 months. The payments are $38.54 per month and the total finance charge is $599.92. After 30 months, May decided to pay off the loan. After calculating the finance charge rebate (using the "Rule-of-78"), find her loan payoff.

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The Answer of May finances a refrigerator for $1,250 by taking out an installment loan for 48 months. The payments are $38.54 per month and the total finance charge is $599.92. After 30 months, May decided to pay off the loan. After calculating the finance charge rebate (using the "Rule-of-78"), find her loan payoff.

May Finances a Refrigerator for $1,250 by Taking Out an Installment