Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using the APR formula. (Round dollar amounts to the nearest cent and percentages to one decimal place.) Amount Financed Number of Payments Monthly Payment Finance Charge APR $18,100 72 $426.08 $
Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using the APR formula. (Round dollar amounts to the nearest cent and percentages to one decimal place.) Amount Financed Number of Payments Monthly Payment Finance Charge APR $18,100 72 $426.08 $
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 17E: Mortgage what is the monthly payment on a 30-year mortgage of $100,000 at 8% interest per year,...
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Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using the APR formula. (Round dollar amounts to the nearest cent and percentages to one decimal place.)
Amount Financed |
Number of Payments |
Monthly Payment |
Finance Charge |
APR |
---|---|---|---|---|
$18,100 | 72 | $426.08 | $ | % |
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