Answer:
Hardy borrowed $20,000.00 from the E-Z loan company. The loan is to be repaid in 36 monthly installments of $608.44. At the end of 10 months, Harry decided to pay off the loan. Harry is entitled to a rebate of $1903.84
Step-by-step explanation:
Loan borrowed $20,000
per installment for 36 months = $608.44
but if he pays withing 10 months instead of 36, then we have 36/10= 3.6 X $608.44
so he would need to pay $2190.384 per installment for 10 months
After 10th month he would have paid $21903.84
Harry is entitled to a rebate of $21903.84- $20,000= $1903.84