Finance RatesNumber ofpayments612182430364860Annual Percentage Rate Table for Monthly Payment PlansAnnual Percentage Rate4.0% 4.5% 5.0%2.642.792.184.94 5.225.5% 6.0% 6.5% 7.0% 7.5% 8.0% 8.5%(Finance charge per $100 of amount financed)1.17 1.32 1.46 1.61 1.76 1.90 2.05 2.20 2.35 2.492.453.283.563.834.114.39 4.663.20 3.604.82 5.22 5.63 6.04 6.45 6.86 7.28 7.695.29 5.83 6.37 6.91 7.45 8.00 8.54 9.09 9.64 10.19 10.755.92 6.59 7.26 7.94 8.61 9.30 9.98 10.66 11.35 12.04 12.74 13.437.09 7.90 8.71 9.52 10.34 11.16 11.98 12.81 13.64 14.48 15.32 16.162.73 3.004.00 4.414.224.755.256.298.38 9.46 10.54 11.63 12.7310.50 11.86 13.23 14.6113.83 14.94 16.06 17.18 18.31 19.45 20.59 21.7416.00 17.40 18.81 20.23 21.66 23.10 24.55 26.01 27.48PrintDone9.0%9.5% 10.0%2.935.508.10 Determine the monthly payment for the installment loan.Number ofAnnualPercentagePayments per Time inYear (n)Years (t)122AmountFinanced (P) Rate (r)$7004.5%Click the icon to view the partial APR table.The monthly payment is $(Round to the nearest cent as needed.)

Amount Financed, P = $700Percentage rate, r = 4.5%Number of payments per year, n =12Time in years, t…

Determine the monthly payment for the installment loan. Number of Annual Percentage Payments per Time in Year (n) Years (t) 12 2 Amount Financed (P) Rate (r) 4.5% $700 Click the icon to view the partial APR table. The monthly payment is $. (Round to the nearest cent as needed.)

Determine the monthly payment for the installment loan. Number of Annual Percentage Payments per Time in Year (n) Years (t) 12 2 Amount Financed (P) Rate (r) 4.5% $700 Click the icon to view the partial APR table. The monthly payment is $. (Round to the nearest cent as needed.)

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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Question

Finance Rates
Number of
payments
6
12
18
24
30
36
48
60
Annual Percentage Rate Table for Monthly Payment Plans
Annual Percentage Rate
4.0% 4.5% 5.0%
2.64
2.79
2.18
4.94 5.22
5.5% 6.0% 6.5% 7.0% 7.5% 8.0% 8.5%
(Finance charge per $100 of amount financed)
1.17 1.32 1.46 1.61 1.76 1.90 2.05 2.20 2.35 2.49
2.45
3.28
3.56
3.83
4.11
4.39 4.66
3.20 3.60
4.82 5.22 5.63 6.04 6.45 6.86 7.28 7.69
5.29 5.83 6.37 6.91 7.45 8.00 8.54 9.09 9.64 10.19 10.75
5.92 6.59 7.26 7.94 8.61 9.30 9.98 10.66 11.35 12.04 12.74 13.43
7.09 7.90 8.71 9.52 10.34 11.16 11.98 12.81 13.64 14.48 15.32 16.16
2.73 3.00
4.00 4.41
4.22
4.75
5.25
6.29
8.38 9.46 10.54 11.63 12.73
10.50 11.86 13.23 14.61
13.83 14.94 16.06 17.18 18.31 19.45 20.59 21.74
16.00 17.40 18.81 20.23 21.66 23.10 24.55 26.01 27.48
Print
Done
9.0%
9.5% 10.0%
2.93
5.50
8.10

Determine the monthly payment for the installment loan.
Number of
Annual
Percentage
Payments per Time in
Year (n)
Years (t)
12
2
Amount
Financed (P) Rate (r)
$700
4.5%
Click the icon to view the partial APR table.
The monthly payment is $
(Round to the nearest cent as needed.)

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