K Jack Fitzgerald wishes to purchase a used car that has a cash price of $11,000. The installment terms include a down payment of $2,000 and 48 monthly payments of $219. a) What finance charge will Jack pay? b) What is the APR to the nearest half percent? 魚 INNK Annual Percentage Rate Table for Monthly Payment Plans. (Finance charge per $100 of amount financed) Number 7.50% 8.00% 8.50% 9.00% 9.50% of Payments 36 48 11.98 12.81 13.64 14.48 15.32 16.06 17.18 18.31 19.45 20.59

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