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 Number of Monthly Payment Finance APR Financed Payments Charge S100,000 72 $2,045.50 $

Q: Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on…

A: Purchase Price =$711 Down Payment = $711 * 10% = $71.10

Q: Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on…

A: Formula: Finance charge = Amount financed x add on interest x ( 30 / 12 ) Monthly payment = [ (…

Q: Note: Round all answers to the nearest cent when necessary. Calculate the amount financed, the…

A: When funds are financed from outside, they carry a finance charge which is the cost of using those…

Q: Cash is borrowed on a 2-month note payable. If the interest cost to borrow is RO 400 what is the…

A: Interest is calculated on the principal amount borrowed by the business.  In the given case if…

Q: Calculate the monthly payment by using the loan amortization table:  (Round your answer to the…

A: Annuity: An annuity is defined as a series of payments, whether received or made, that are equal and…

Q: Use the loan amortization table: Purchase price of a used car $5,533, Down payment  $1,153, number…

A: Lookup table are used to calculate the loan amortization and are used as shortcuts to calculate the…

Q: The following loan was paid in full before its due date a) Find the value of h using an appropriate…

A: Given:APR = 7.2%Regular Monthly Payment = $247Number of payments after Payoff (n) =8

Q: Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using…

A: Using excel RATE function

Q: Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary…

A: Solution Rate (in %) for the loan = Interest / principal amount * 360/ days of loan

Q: Given the annual interest rate and a line of an amortization schedule for that​ loan, complete the…

A: Annual interest rate = 5.4% Monthly interest rate = 5.4%/12 = 0.45% Closing balance = $ 4,464.20…

Q: Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using…

A: The finance charge is the charge which is paid by the borrower on the amount he borrowed is called…

Q: Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary…

A: Ordinary interest, also known as simple interest, is a method of calculating interest on a loan or…

Q: Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage…

A: Using excel Rate function

Q: Find the annual percentage rate using the annual percentage rate table. Here are some conditions of…

A: A loan is a financial arrangement in which one or more people, companies, or other entities lend…

Q: Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary…

A: Principal Amount = p = $185,000 Time = t = 2 years Interest amount = i = $24,050

Q: Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using…

A: We will use the future value calculator with given variables to find out the required information…

Q: Calculate the amount financed, the finance charge, and the total deferred payment price (in $) for…

A: Amount financed = Purchase price * (1 - Downpayment %)

Q: Find the total installment cost and the finance charge for an installment loan with these…

A: A loan is a financial arrangement in which one or more people, companies, or other entities lend…

Q: Calculate the amount financed, the finance charge, and the total deferred payment price for the…

A: Concept: The total deferred amount is defined as the amount of compensation based under the plan…

Q: Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage…

A: AMOUNT FINANCED = $17.910 NO OF PAYMENT = 48 MONTHLY PAYMENT = $550.47 TOTAL PAYMENT = $550.47 x 48…

Q: Use the ordinary interest method to compute the time (in days) for the loan. Round your answer up to…

A: Ordinary interest is a method of interest calculation where the principal amount remains the same…

Q: Calculate the missing information for the loan. Round percents to the nearest tenth and days to the…

A: The loan is an agreement between the two parties, In which one party is a loan provider and the…

Q: Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on…

A:

Q: Calculate the amount financed, the finance charge, and the total deferred payment price (in $) for…

A: Loans are paid by monthly payment and these monthly payments carry the payment of loan and also…

Q: Compute the size of the final payment for the following loan.   Principal​ $ Periodic Payment​ $…

A: A loan is  basically a type of debt that an individual or the other entity incurs. The lender, who…