Question: 1. John Paszel took out a loan for 48 months but paid it in full after 28 months. Find the refund fraction he should use to calculate the amount of his refund.
2. If the finance charge on a loan made by Marjorie Young is $1,645 and the loan is to be paid in 48 monthly payments, find the finance charge refund if the loan is paid in full with 28 months remaining.