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What is the refund fraction for the interest refund

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Reference no: EM131623062

Question: 1. A loan for 12 months with interest of $397.85 is paid in full with five payments remaining. What is the refund fraction for the interest refund?

2. A loan for 48 months has interest of $2,896 and is paid in full with 18 months remaining. What is the refund fraction for the interest refund?

Reference no: EM131623062

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