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Calculate the monthly payment by table lookup and formule. (Answers will not be exact due to rounding of percents in table lookup.). (Use 13% for table lookup.). (Use the loan amortization table) (Round your answers to the nearest cent.) Purchase price of a used car $5,673 By table. By formula Down payment. $1,223 Monthly Payment Number of monthly payments 48 Amount financed 14,450 Total of monthly payments $5,729.76 Total finance charge $1,279.76 APR 13%

Calculate the monthly payment by table lookup and formule. (Answers will not be exact due to rounding of percents in table lookup.). (Use 13% for table lookup.). (Use the loan amortization table) (Round your answers to the nearest cent.) Purchase price of a used car $5,673 By table. By formula Down payment. $1,223 Monthly Payment Number of monthly payments 48 Amount financed 14,450 Total of monthly payments $5,729.76 Total finance charge $1,279.76 APR 13%

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to rounding of percents in table lookup.). (Use 13% for table lookup.). (Use the loan amortization table) (Round your answers to the nearest cent.) Purchase price of a used car $5,673 By table By formula Down payment $1,223 Monthly Payment Number of monthly payments 48 Amount financed 1.4,450 Total of monthly payments $5,729.76 Total finance charge $1,279.76 APR 13%
Transcribed Image Text:Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to rounding of percents in table lookup.). (Use 13% for table lookup.). (Use the loan amortization table) (Round your answers to the nearest cent.) Purchase price of a used car $5,673 By table By formula Down payment $1,223 Monthly Payment Number of monthly payments 48 Amount financed 1.4,450 Total of monthly payments $5,729.76 Total finance charge $1,279.76 APR 13%
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