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Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage rate for the installment loan by using the APR table, Table 13-1. (Round dollar amounts to the nearest cent.) Finance Charge per $100 Amount Number of Monthly Payment Finance APR Financed Payments Charge $13,000 36 $454.00 $ 3,344 $ 25.72

Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage rate for the installment loan by using the APR table, Table 13-1. (Round dollar amounts to the nearest cent.) Finance Charge per $100 Amount Number of Monthly Payment Finance APR Financed Payments Charge $13,000 36 $454.00 $ 3,344 $ 25.72

Essentials Of Investments
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
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Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage rate for the installment loan by using the APR table, Table 13-1. (Round dollar amounts to the nearest cent.) Number of Finance Charge Monthly Payment Amount Finance APR Financed Payments Charge per $100 $13,000 36 $454.00 $ 3,344 $ 25.72 X %
Transcribed Image Text:Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage rate for the installment loan by using the APR table, Table 13-1. (Round dollar amounts to the nearest cent.) Number of Finance Charge Monthly Payment Amount Finance APR Financed Payments Charge per $100 $13,000 36 $454.00 $ 3,344 $ 25.72 X %
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