If the finance charge on a loan made by Marjorie Young is $1,525 and the loan is to be paid in 36 monthly payments, find the finance charge refund if the loan is paid in full with 18 months remaining. The finance charge refund is S (Type an integer or decimal rounded to the nearest hundredth as needed.)

If the finance charge on a loan made by Marjorie Young is $1,525 and the loan is to be paid in 36 monthly payments, find the finance charge refund if the loan is paid in full with 18 months remaining. The finance charge refund is S (Type an integer or decimal rounded to the nearest hundredth as needed.)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 21MC: A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an...

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