The following installment loan is being paid off early. Calculate the rebate fraction, the finance charge rebate, and the loan payoff for the loan, rounding dollars to the nearest cent: $$\begin{array} { l l l l l l l }
& \text { Total } & & \text { Number of } & & \text { Finance } \
\text { Amount } & \text { Number of } & \text { Monthly } & \text { Payments } & \text { Rebate } & \text { Charge } & \text { Loan } \
\text { Financed } & \text { Payments } & \text { Payment } & \text { Remaining } & \text { Fraction } & \text { Rebate } & \text { Payoff } \
\$ 800 & 15 & \$ 62.50 & 9 & & &
\end{array}$$

Question

The following installment loan is being paid off early. Calculate the rebate fraction, the finance charge rebate, and the loan payoff for the loan, rounding dollars to the nearest cent: $$\begin{array} { l l l l l l l } 
& \text { Total } & & \text { Number of } & & \text { Finance } \
\text { Amount } & \text { Number of } & \text { Monthly } & \text { Payments } & \text { Rebate } & \text { Charge } & \text { Loan } \
\text { Financed } & \text { Payments } & \text { Payment } & \text { Remaining } & \text { Fraction } & \text { Rebate } & \text { Payoff } \
\$ 800 & 15 & \$ 62.50 & 9 & & &
\end{array}$$

Quizplus · Accepted Answer

The Answer of The following installment loan is being paid off early. Calculate the rebate fraction, the finance charge rebate, and the loan payoff for the loan, rounding dollars to the nearest cent: $$\begin{array} { l l l l l l l } 
& \text { Total } & & \text { Number of } & & \text { Finance } \
\text { Amount } & \text { Number of } & \text { Monthly } & \text { Payments } & \text { Rebate } & \text { Charge } & \text { Loan } \
\text { Financed } & \text { Payments } & \text { Payment } & \text { Remaining } & \text { Fraction } & \text { Rebate } & \text { Payoff } \
\$ 800 & 15 & \$ 62.50 & 9 & & &
\end{array}$$

The Following Installment Loan Is Being Paid Off Early