Math

Advanced MathContemporary Mathematics for Business & ConsumersYou are the loan department supervisor for the Pacific National Bank. The following installment loans are being paid off early, and it is your task to calculate the rebate fraction, the finance charge rebate, and the payoff for each loan. Amount Number of Monthly Payments Rebate Finance Charge Loan Financed Payments Payment Made Fraction Rebate Payoff $4,800 36 $169.33 27 ____ ____ ____BuyFind*launch*

8th Edition

Robert Brechner + 1 other

Publisher: Cengage Learning

ISBN: 9781305585447

Chapter 13.II, Problem 42RE

Textbook Problem

You are the loan department supervisor for the Pacific National Bank. The following installment loans are being paid off early, and it is your task to calculate the rebate fraction, the finance charge rebate, and the payoff for each loan.

Amount |
Number of |
Monthly |
Payments |
Rebate |
FinanceCharge |
Loan |

Financed |
Payments |
Payment |
Made |
Fraction |
Rebate |
Payoff |

$4,800 | 36 | $169.33 | 27 | ____ | ____ | ____ |

Contemporary Mathematics for Business & Consumers

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a. 24
b. 30
Ch. 13.II - 54. a. What is the rebate fraction of a 36-month...Ch. 13.II - Charlie Allen financed a $3,500 Nautilus home gym...Ch. 13 - ____ credit is a loan arrangement in which there...Ch. 13 - The effective or true annual interest rate being...Ch. 13 - Loans that are backed by the borrowers promise to...Ch. 13 - 4. Loans made on a continuous basis and billed...Ch. 13 - 5. Name the two most common methods used to...Ch. 13 - 6. Write the formula for calculating the average...Ch. 13 - 7. A pre-approved amount of open-end credit is...Ch. 13 - 8. The interest rate of most lines of credit is...Ch. 13 - A loan made for a specified number of equal...Ch. 13 - The portion of the purchase price of an asset paid...Ch. 13 - A popular method for calculating the interest on...Ch. 13 - 12. Write the formula for calculating the APR of...Ch. 13 - 13. The finance charge ________ is the unearned...Ch. 13 - The most common method for calculating the finance...Ch. 13 - John Dugan's revolving credit account has an...Ch. 13 - 2. Daniel Noguera has a Bank of America revolving...Ch. 13 - Charlotte Williams has a Visa account. The finance...Ch. 13 - 4. Calculate the average daily balance for January...Ch. 13 - Mel Arrandt has a Bank of America account with a...Ch. 13 - Alpine Construction, Inc. has a $100,000 line of...Ch. 13 - George Bell bought an ultralight airplane for...Ch. 13 - 8. David Sporn bought a saddle from Linville...Ch. 13 - 9. Buster Blaster Recording Studio purchased a new...Ch. 13 - Chris Manning purchased a $7,590 motorcycle with a...Ch. 13 - 11. SkyHigh Aircraft Sales uses the Executive...Ch. 13 - 12. After making 11 payments on a 36-month loan,...Ch. 13 - An Auntie Annes franchise financed a $68,000...Ch. 13 - 14. You are a salesperson for Mega Marine Boat...Ch. 13 - 15. Joe Keener found the accompanying ad for a...

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