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Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by table lookup. (Use Table 14.1 and Table 14.1(b).) (Do not round intermediate calculations. Round the "Finance charge" to the nearest cent.) Purchase price of a used car $ 5,453 Down payment $ 1,113 Number of monthly payments 48 Amount financed Total of monthly payments $ 5,509.76 Total finance charge APR

Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by table lookup. (Use Table 14.1 and Table 14.1(b).) (Do not round intermediate calculations. Round the "Finance charge" to the nearest cent.) Purchase price of a used car $ 5,453 Down payment $ 1,113 Number of monthly payments 48 Amount financed Total of monthly payments $ 5,509.76 Total finance charge APR

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by table lookup. (Use Table 14.1 and Table 14.1(b).) (Do not round intermediate calculations. Round the "Finance charge" to the nearest cent.) Purchase price of a used car $ Down payment 1,113 5,453 $ Number of monthly payments 48 Amount financed Total of monthly payments $ 5,509.76 Total finance charge APR
Transcribed Image Text:Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by table lookup. (Use Table 14.1 and Table 14.1(b).) (Do not round intermediate calculations. Round the "Finance charge" to the nearest cent.) Purchase price of a used car $ Down payment 1,113 5,453 $ Number of monthly payments 48 Amount financed Total of monthly payments $ 5,509.76 Total finance charge APR
ANNUAL PERCENTAGE RATE 43.47 44-23 44.29 45.07 45.85 16.758 17.00 17.25% 17.50% 17.758 26-70 27-11 44.27 44.97 46.10 46.31 14:30 10:00 10:0 49.92 50.73 OF 61009 1755 10.258 10.50 10.758 1 ANNUAL PERCENTAGE RATE 2.00 12.25 12.50 12.758 13.00 13.251 13.50 13.75 INANCEO) (FINANCE CHARGE PER $100 OF AMOUNT 29.37 30.10 10.82 30-45 31:20 11:38 13.24 13.51 13.78 14.05 14.32 16.14 16.47 16.80 17.13 17.46 17:07 17:41 17:15 18:10 18.87 19.25 19.63 20.02 70.08 20.49 30.26 20.66 21.53 21.95 Note: For a more detailed set of tables from 2% to 21.75%, see the reference tables in the Business Math Handbook 22.99 23.45 24,56 25.38 25.88 26.15 26.68 21:31 22.00 28.45 29.22 29.37 29.97 30.57 31.29 11.92 32.63 33.29 13:30 13 34.65 35.15 15.24 16.0 36.62 37.37 18.13
Transcribed Image Text:ANNUAL PERCENTAGE RATE 43.47 44-23 44.29 45.07 45.85 16.758 17.00 17.25% 17.50% 17.758 26-70 27-11 44.27 44.97 46.10 46.31 14:30 10:00 10:0 49.92 50.73 OF 61009 1755 10.258 10.50 10.758 1 ANNUAL PERCENTAGE RATE 2.00 12.25 12.50 12.758 13.00 13.251 13.50 13.75 INANCEO) (FINANCE CHARGE PER $100 OF AMOUNT 29.37 30.10 10.82 30-45 31:20 11:38 13.24 13.51 13.78 14.05 14.32 16.14 16.47 16.80 17.13 17.46 17:07 17:41 17:15 18:10 18.87 19.25 19.63 20.02 70.08 20.49 30.26 20.66 21.53 21.95 Note: For a more detailed set of tables from 2% to 21.75%, see the reference tables in the Business Math Handbook 22.99 23.45 24,56 25.38 25.88 26.15 26.68 21:31 22.00 28.45 29.22 29.37 29.97 30.57 31.29 11.92 32.63 33.29 13:30 13 34.65 35.15 15.24 16.0 36.62 37.37 18.13
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