Trey finances a motorcycle purchase for $15,500 by taking out an installment loan for 48 months. The payments were $364.20 per month and the total finance charge was $8,790. After 40 months, Trey decided to pay off the loan. After calculating the finance charge rebate, find his loan payoff amount.

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The Answer of Trey finances a motorcycle purchase for $15,500 by taking out an installment loan for 48 months. The payments were $364.20 per month and the total finance charge was $8,790. After 40 months, Trey decided to pay off the loan. After calculating the finance charge rebate, find his loan payoff amount.

Trey Finances a Motorcycle Purchase for $15,500 by Taking Out