Maurice Van Norman made a 48-month loan that has interest of $1,987. He paid the loan in full with 11 months remaining. The interest is refunded based on the rule of 78. Find the amount of interest to be refunded.
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Maurice Van Norman made a 48-month loan that has interest of $1,987. He paid the loan in full with 11 months remaining. The interest is refunded based on the rule of 78. Find the amount of interest to be refunded.