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).) .........*g Total of monthly Purchase price of a used car Number of monthly payments Down payment Amount Total finance APR financed payments charge 24 4,215 $ 90 60 2$ 5,964
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).) .........*g Total of monthly Purchase price of a used car Number of monthly payments Down payment Amount Total finance APR financed payments charge 24 4,215 $ 90 60 2$ 5,964
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Transcribed Image Text:ANNUAL PERCENTAGE RATE
NUMBER
OF
PAYM ENTS
2.008
2.25% 2.50%
2.75 3.00
3.25%
3.50t
3.75%
4.00t
4.257
4.50%
4.757
5.00t
5.25%
5.50%
5.15T
(FINANCE CHARGE PER s100 OF AMNUNT FINANCEDI
0.27
0.41
0.54
0.68
0.31
0.47
0.63
0.78
0.94
0.33
0.50
0.67
0.A3
1.00
.4A
0.77
n.96
1.20
1.44
0.44
0.17
0.25
0.33
0.42
0.50
0.19
0.28
0.38
0.47
0.2
0.31
0.42
0.52
0.63
0.23
0.34
0.46
0.57
0.69
0.25
0.39
0.50
0.63
0.75
0.59
0.79
0.99
1.19
0.56
0.75
0.49
0.92
0.63
0.81
1.04
1.25
0. AA
01 1
1.32
0.71
0.5A
0.73
0.88
1.07
1.13
1.34
0.56
54
0.A8
1.00
ED 1
1.13
1.46
1.67
1.88
2.09
2.31
0.95
0.80
0.92
0.58
0.67
0.75
0.84
0.92
0. 66
0. 75
0.85
0.94
1.03
0.73
0.84
0.94
1.04
1.15
1.76
1.
1.2
1.
1.50
1.40
1.18
1.96
1.69
1.48
2.07
1.79
1.99
2.19
1.98
2.20
7.42
2.07
2.31
2.54
1.
1.25
1.38
1.26
1.51
1.
10
2.52
2.73
2.94
3.15
3.37
2.4
2.87
3.09
2.77
1.00
1.74
3.47
3.71
2.90
2.39
2.50
7.77
2.14
2.26
2.01
2.1
2.35
2.52
2.69
1.88
1.76
1.91
2.05
2.20
2.35
1.00
1.14
1.50
1.77
2.04
2.12
1.39
2.50
2.6A
2.96
60 1
1.17
1.25
1.34
1.57
1.67
1.73
1.84
1.1
1.89
2.01
2.04
2.18
2.20
2.36
2.52
2.84
3.03
14
3.20
1.54
1.88
3.40
3.60
3.80
4.01
21
3.58
3.79
4.07
4.22
.43
3.
3.9A
4.71
1.04
3.27
雞 舖
2.50
2.65
2.79
2.94
3.09
2.68
2.84
2.99
3.15
3.31
2.A6
3.03
3.20
3.37
3.54
2.
1.96
2.08
2. 19
2.31
2.42
1.78
1.89
1.
1.
1.
1.76
1.60
1.70
1.79
1.39
1.98
3.41
1,60
3.79
3.98
1.40
18
19
20
1.99
2.10
2.20
2.39
2.52
2.65
2.59
2.73
2.87
1.5A
3. 76
4.66
2.54
2.66
2.77
2.89
3.01
2.77
2.90
3.03
3.15
3.2A
3.01
3.14
28
3.42
3.56
3.47
3.63
3.79
3.95
4.11
4.65
4.86
5.OH
5.29
5.5L
2.
1.
1.
2.01
2.41
2.52
2.62
2.73
3.8
4.05
4.22
4.39
5.
S.A5
23
24
2.27
2.36
01
5.56
5.79
5.A1
3.
3.44
5.02
5.23
95
2.18
27
28
29
30
2.27
2.35
2.43
2.52
2.60
2.55
2.65
2.74
2.94
2.93
2.84
2.94
3.05
3.16
3.26
12
3.24
3.36
3.47
3.59
3.41
3.5%
3.67
3.79
3.92
3.T0
3.84
0.97
4.11
4.25
5.
5.
5.07
5.64
5.44
6.05
6.25
5.94
6.15
6.37
6.59
6.47
6. 70
6.92
6.78
7.07
7.26
7.10
7.35
7.60
4.59
5.22
5.08
92
5.25
5.58
7.A5
6.81
7.02
7.24
7.46
7.AA
1.15
7.18
7.61
7. R4
46
4.39
4.53
4.61
4.81
4.9
4.73
4.88
5.04
5.19
5.34
5.08
5.24
5.40
5.56
5.72
3.71
3. 83
4.05
4.18
3.37
2.69
2.77
2.86
2.94
3.03
3.03
3.12
3. 22
3.32
3.41
3.58
3.69
3.79
6.31
6.50
6.70
6.89
6.66
6.87
7.08
7.28
P.35
A.51
8.A6
4.06
4.18
6.32
6.50
34
3.51
3.60
3. 70
3.79
3.89
3.90
4.01
4.11
5.09
5.23
5.37
5.51
5.65
6.46
6.63
6.81
6.9A
6.69
6.87
7.06
7.24
1.41
7.1
7.28
7.48
7.49
7.70
7.91
8.11
8.32
9.10
8.53
A. 76
6.99
9.22
20
4.95
5.08
5.21
5.79
5.94
6.09
9.47
10.13
3.28
67
3.37
3.45
7.
4.77
10.38
10.64
A.51
8.74
A.45
9.16
9.37
9.92
10.16
10.41 10-
10.65
10.39
יוד.הי
9.21
4.89
5.00
5.12
5.24
5.36
3.99
0B
3.54
3.62
3.71
3.79
3.88
47
5.60
5.73
5.86
5.93
6.07
6.21
6.35
9.69
9.92
10.15
10.38
6.55
7.0
4.65
1
4.1
A.bE
8.86
9.65
4. AB
28
37
86
4.97
5.08
5.19
5.30
5.40
5.48
5.60
5. 72
5.83
5.95
5.
6.11
6.24
6.37
6.50
6.03
8.20
38
9.06
9.26
9.46
9.58
9.79
10.00
10.21
10.42
10.10
10.32
10.54
10.76
10.99
10.62
10.85
11.09
8.73
A.92
.18
.92
7.84
8.01
8.17
85
11.55
12.70
85
11.79
12.02
12.26
12.49
12.73
10.63
10.84
10.05
10.25
10.45
10.65
10.95
6.07
.20
5.62
5.73
5.83
6.31
6.43
6.55
6.77
6.90
7.03
7.16
9.86
10.04
10.23
11.24
12.10
13.99
1.
9.00
12.97
10.42
10.61
10.80
10.99
12.33
12.55 13.70
13.44
11.
7.91
8.05
6.19
11.90
5.53
12.78
6.9L
7.03
7.15
10.14
10.32
10.50
13.00
13.68
13.23
13.92
15.30
73
5.82
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).)
Number of monthly
Purchase price of a
used car
Amount
Total of monthly
Total finance
Down payment
APR
payments
financed
payments
charge
4,215
24
90
60
5,964
acer
%24
%24
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