You are the loan department supervisor for a bank. This installment loan is being paid off early, and it is your task to calculate the rebate fraction, the finance charge rebate (in $), and the payoff for the loan (in $). (Round dollars to the nearest cent.) Finance Amount Financed Monthly Payment Number of Payments Rebate Loan Charge Rebate Payments Made Fraction Payoff $4,700 36 $168.33 28 $ 73.507 2$ 1273.133

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Q: You are the loan department supervisor for a bank. This installment loan is being paid off early,…

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