5. DETAILS PREVIOUS ANSWERS BRECMBC9 13.11.046. 15/100 Submissions Used MY NOTES ASK Y Meghan Pease purchased a small sailboat for $8,350. She made a down payment of $1,700 and financed the balance with monthly payments of $239.38 for 36 months. (a) What is the finance charge (in $) on the loan? $ 1967.68 (b) Use Table 13-1 to find what annual percentage rate was charged on Meghan's loan. (Round your answer to two decimal places.) 82.19 x %

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ChapterP: Prerequisites: Fundamental Concepts Of Algebra
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Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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use table 13-1 to find what annual percentage rate was charged on meghans loan
MAT 101 Final Exam-MAT-101 x
A13-table-1.pdf
A 13-table-1.pdf
* MindTap - Cengage Learning
webassign.net/web/Student/Assignment-Responses/submit?dep=26634985&tags=autosave#question4333556_14
ops
(in $)
Advances
(in $)
(in $)
April
$645.17
$14.52
$35.45
$95.00
$600.14
May
%24
$285.33
$145.00
15.
DETAILS
PREVIOUS ANSWERS
BRECMBC9 13.I1.046. 15/100 Submissions Used
MY NOTES
ASK YO
Meghan Pease purchased a small sailboat for $8,350. She made a down payment of $1,700 and financed the balance with monthly payments of $239.38 for 36 months.
(a) What is the finance charge (in $) on the loan?
$1967.68
(b) Use Table 13-1 to find what annual percentage rate was charged on Meghan's loan. (Round your answer to two decimal places.)
82.19
X %
Submit Answer
MY NOTES
ASK YOU
16.
DETAILS
BRECMBC9 14.1.018.
0/100 Submissions Used
Phil Pittman is interested in a fixed-rate mortgage for $400,000. He is undecided whether to choose a 15- or 30-year mortgage. The current mortgage rate is 8% for the 15-year mortga
for the 30-year mortgage. (Round your answers to the nearest dollar. Use this table, if necessary.)
(a) What are the monthly principal and interest payments (in $) for each loan?
15-year mortgage
24
30-year mortgage
$
(b) What is the total amount of interest (in $) paid on each loan?
15-year mortgage
24
30vear mortaage
MacBook Pro
%24
%24
%24
Transcribed Image Text:MAT 101 Final Exam-MAT-101 x A13-table-1.pdf A 13-table-1.pdf * MindTap - Cengage Learning webassign.net/web/Student/Assignment-Responses/submit?dep=26634985&tags=autosave#question4333556_14 ops (in $) Advances (in $) (in $) April $645.17 $14.52 $35.45 $95.00 $600.14 May %24 $285.33 $145.00 15. DETAILS PREVIOUS ANSWERS BRECMBC9 13.I1.046. 15/100 Submissions Used MY NOTES ASK YO Meghan Pease purchased a small sailboat for $8,350. She made a down payment of $1,700 and financed the balance with monthly payments of $239.38 for 36 months. (a) What is the finance charge (in $) on the loan? $1967.68 (b) Use Table 13-1 to find what annual percentage rate was charged on Meghan's loan. (Round your answer to two decimal places.) 82.19 X % Submit Answer MY NOTES ASK YOU 16. DETAILS BRECMBC9 14.1.018. 0/100 Submissions Used Phil Pittman is interested in a fixed-rate mortgage for $400,000. He is undecided whether to choose a 15- or 30-year mortgage. The current mortgage rate is 8% for the 15-year mortga for the 30-year mortgage. (Round your answers to the nearest dollar. Use this table, if necessary.) (a) What are the monthly principal and interest payments (in $) for each loan? 15-year mortgage 24 30-year mortgage $ (b) What is the total amount of interest (in $) paid on each loan? 15-year mortgage 24 30vear mortaage MacBook Pro %24 %24 %24
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