Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using the APR table, Table 13-1. (Round your answers to the nearest cent.) Amount Financed Number of Payments APR Table Factor Finance Charge Monthly Payment $9,100 36 13% $ $ $
Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using the APR table, Table 13-1. (Round your answers to the nearest cent.) Amount Financed Number of Payments APR Table Factor Finance Charge Monthly Payment $9,100 36 13% $ $ $
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
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Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using the APR table, Table 13-1. (Round your answers to the nearest cent.)
| Amount Financed |
Number of Payments |
APR | Table Factor |
Finance Charge |
Monthly Payment |
|---|---|---|---|---|---|
| $9,100 | 36 | 13% | $ | $ | $ |
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TABLE 13-1 Annual Percentage Rate (APR) Finance Charge per $100
ANNUAL PERCENT AGE RATE TABLE FOR MONT HLY PAYMENT PLANS
SEE INSTRUCTIONS FOR USE OF TABL ES
FRB-103-M
ANNU AL PERCENT AGE RATE
NUMBER
OF
PAYMENTS 10.00% 10.25% 10.50% 10. 75% 11.00% 11.25% 11.50% 11.75% 12.00% 12.25% 12.50% 12.75% 13.00% 13.25% 13. 50% 13.75%
(FI NA NCE CHARGE PER $100 OF AMOUNT FINANC ED)
0. 90
1.35
1.80
2.25
1.15
1.72
2.30
1.00
1.50
1.02
1.53
1.06
1.60
0.96
1.44
1.92
2.41
2.89
0.98
1.47
1.04
1.08
1.10
1.12
0.83
1.25
1.67
2.09
2.51
0.85
1.28
1.71
0.87
1.31
1.76
2.20
2.64
0.92
0.94
1.57
1.71
2.14
2.58
1.38
1.84
1.41
1.88
2.35
1.96
2.46
2.96
2.05
2.57
3.08
1.63
2.17
2.72
1.66 1.69
2.22
2.78
2.01
2.09
2.13
2.26
2.51
2.62
3.15
2.30
2.67
2.83
2.88
2.70
2.77
2.83
3.02
3.21
3.27
3.34
3.40
3.46
4.05
4.64
5.22
5.82
6.41
3.97
3.23
3.70
4.17
3.31
3.78
4.26
4.75
5.23
3.38
3.87
3.45
3.95
3.53
4.04
4.55
3.60
3.68
3.75
3.83
3.90
2.94
3.36
3.01
3.45
3.88
4.32
3.08
3.53
3.98
4.43
4.88
6
3.16
4.21
4.12
4.65
3.62
4.29
4.38
4.47
4.55
4.94
5.03
5.13
5.71
3.79
4.07
4.36
4.46
4.14
4.84
4.85
5.35
4.21
4.53
4.64
4.96
5.07
5.17
5.28
5. 39
5.49
5.60
10
4.64
4.76
4.99
5.11
5.46
5.58
5.70
5.82
5.94
6.05
6.17
6.29
5. 20
5. 64
6.08
5.71
6.20
5.84
6.34
6.84
5.97
6.48
6.99
1.50
8.01
6.36
6.90
1.44
6.10
6.23
6.49
6.62
7.18
6.75
6.88
7.01
7.60
8.20
8.81
9.41
11
5.07
5.50
5.93
5.33
5.45
5.58
6.06
6.53
7.01
7.49
6.76
7.29
7.82
7. 32
7. 90
8.4A
5.78
7.04
7.46
5.92
6.38
6.62
7.14
12
7.75
8.31
13
6.23
6.68
7.59
8.05
7.99
8.53
8.15
8.71
14
6.36
6.52
6.69
6.85
7.17
7.34
7.66
8.64
15
6.80
6.97
7.14
7. 32
7.66
7.84
8.19
8.36
8.88
9.06
9.23
10.02
10.63
11.24
7.60
7.78
7.97
8.15
8.65
8.34
8.84
9.35
8.53
8.71
8.90
9.08
9.27
9.46
9.64
9.83
16
17
18
19
7.23
7.41
9.04
9.56
10.43
11.03
11.63 11.85
9.24
9.44
9.63
9.83
10.03
10.61
10.73
7.67
8.10
8.54
7.86
8. 31
8.76
9.21
8.06
8.25
8.45
8.93
9.42
9.98
10.52
11.06
10. 82
11.41
12.00
8.52
10.40
8. 73
9.20
9.77
10.30
9.14
10.19
9.86
10.37
10.08
10.60
10.74
10.96
11.18
11.76
8.98
9.64
20
8.98
9.44
9.67
9.90
10.13
10.83
11.30
11.53
12.23
12.46
13. 08
13. 70
14.32
14.95
15.57
10.15 10. 39 10.63
11.13
11.61
12.16
12.71
13.26
11.85 12.10
12.41
12.97
12.59
12.93 13.19
13.78
12.34
12. A4
13.44
14.05
14.66
21
9.42
9.66
9.90
10.88
11.12
11.36
10.37
10.84
11.30
11.77
10.62
11.10
11.58
12. 06
10.88
11.37 11.63 11.90
22
9.86
10.12
11.39
11.64
11.90
12.67
10.30
10.75
11.19
10.57
11.02
12.17
12. 70
13.22
12.44
13.24
13.51
23
24
12.14
12.42
12.98
13.52
13.82
14.10 14.40
13.54
14.10
14.69
11.86
14.38
25
11.48
12.35
12.64
12.93
13.81
14.98
15.28
14.67
15.24 15. 56
15.89
16.19 16.51
17.13
17.75
18.38
11.94
15.59
12.54
12.71 13.03
13.51
14.00
14.48
12.24
12.85
13.34
13.84
13.15
13.66
14.16
14.67
13.45
13.97
26
11.64
13.75
14.06
14.36
14.97
15.28
16.20
14.29
14.82
15.35
27
12.09
12.40
14.60
14.92
15.87
16.83
16. 14
16.80
12.86
13. 32
13.78
28
14.49
15.15
15.48
15.81
16.47
17.46
12.53
12.98
13.18
16.38
16.95
17.07
17.66
15.01
15.70
16.24
29
13.66
14.33
16.04
16.72
17.41
18.10
30
13.43
14.13
14.83
15.19
15.54
15.89
16.60
17.31
18. 02
18.74
16.43
16.59 16.97 17,35
17.16
17.73
17.53
18.27
18.11 18. 49 18.87 19.25 19.63
13.89
19.00
14.25
14.71
14.61
15.09
15.70 16.06
16.21
17.90
18.63
31
32
19.30
20.92
14.97
15.33
16.79
14.34
15.46
15.84
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