document.write( "Question 928634: I am trying to figure out how to calculate the interest refund if the finance charge is $224.00, and the length of the loan is 24 months and is paid off in 10 months, what is the interest refund? \n" ); document.write( "
Algebra.Com's Answer #563752 by Alan3354(69443)![]() ![]() You can put this solution on YOUR website! I am trying to figure out how to calculate the interest refund if the finance charge is $224.00, and the length of the loan is 24 months and is paid off in 10 months, what is the interest refund? \n" ); document.write( "================ \n" ); document.write( "224/24 = $9.33/month \n" ); document.write( "10*9.33 = 93.33 \n" ); document.write( "224 - 93.33 = $130.67 \n" ); document.write( "===================== \n" ); document.write( "That's the linear math solution, but there's fine print somewhere from the lender so you won't get that much. \n" ); document.write( " |