Find the h value on the table for 30 monthly payments at 8.5% APR. Review APR here. APRtable.jpg Table 5 Annual Percentage Rate (APR) for Monthly Payment Loans Annual Percentage Rate (APR) Number of Monthly 6.0% 6.5% 70% 7.5% 8.0% 8.5% 9.0% 9.5% 10.0 % 10.5% 11.0% 11.5% 12.0% 12.5 % 13.0 % 13.5% 14.0% Payments Finance Charge per $100 of Amount Financed (h) (N) 6 $1.76 $1.90 $2.05 $2.20 $2.35 $2.49 $2.64 $2.79 $2.94 $3.08 $3.23 $3.38 $3.53 $3.68 $3.83 $3.97 $4.12 3.28 3.56 3.83 4.11 4.39 4.66 4.94 5.22 5.50 5.78 6.06 6.34 6.62 6.90 7.18 7.46 7.74 4.82 5.22 5.63 6.04 6.45 6.86 7.28 7.69 8.10 8.52 8.93 9.35 9.77 10.19 10.61 11.03 11.45 6.37 6.91 7.45 8.00 8.55 9.09 9.64 10.19 10.75 11.30 11.86 12.42 12.98 13.54 14.10 14.66 15.23 7.94 8.61 9.30 9.98 10.66 11.35 12.04 12.74 13.43 14.13 14.83 15.54 16.24 16.95 17.66 18.38 19.10 9.52 10.34 11.16 11.98 12.81 13.64 14.48 15.32 16.16 17.01 17.86 18.71 19.57 20.43 21.30 22.17 23.04 12.73 13.83 14.94 16.06 17.18 18.31 19.45 20.59 21.74 22.90 24.06 25.23 26.40 27.58 28.77 29.97 31.17 16.00 17.40 18.81 20.23 21.66 23.10 24.55 26.01 27.48 28.96 30.45 31.96 33.47 34.99 36.52 38.06 39.61 12 18 24 30 36 48 60 13.64 9.64 11.35 8.00

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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**Educational Website Content**

---

**Understanding Your Monthly Loan Payments and APR**

**Objective:**  
Find the h value on the table for 30 monthly payments at an 8.5% APR.

**Instructions:**  
Review the Annual Percentage Rate (APR) table provided.

[Link to APR Review](#)  
[Link to APR Table](APRtable.jpg)

---

**Table Explanation:**

**Table 5: Annual Percentage Rate (APR) for Monthly Payment Loans**

This table helps you determine the finance charge per $100 of the amount financed based on the number of monthly payments and the Annual Percentage Rate (APR).

- **Columns**: Represent different APRs ranging from 6.0% to 14.0%.
- **Rows**: Indicate the number of monthly payments, ranging from 12 to 48 months.
- **Cells**: Show the finance charge per $100 of amount financed.

**Example: Finding h value for 30 Monthly Payments at 8.5% APR**

- Locate the column for 8.5% APR.
- Find the row for 30 monthly payments.
- The cell at this intersection is **9.64**.

**Options for h value:**

- 13.64
- 9.64 *(Correct)*
- 11.35
- 8.00

This information is essential for borrowers to estimate the cost of loans over different periods and interest rates accurately.

--- 

Use these insights to better manage loan expectations and financial plans.
Transcribed Image Text:**Educational Website Content** --- **Understanding Your Monthly Loan Payments and APR** **Objective:** Find the h value on the table for 30 monthly payments at an 8.5% APR. **Instructions:** Review the Annual Percentage Rate (APR) table provided. [Link to APR Review](#) [Link to APR Table](APRtable.jpg) --- **Table Explanation:** **Table 5: Annual Percentage Rate (APR) for Monthly Payment Loans** This table helps you determine the finance charge per $100 of the amount financed based on the number of monthly payments and the Annual Percentage Rate (APR). - **Columns**: Represent different APRs ranging from 6.0% to 14.0%. - **Rows**: Indicate the number of monthly payments, ranging from 12 to 48 months. - **Cells**: Show the finance charge per $100 of amount financed. **Example: Finding h value for 30 Monthly Payments at 8.5% APR** - Locate the column for 8.5% APR. - Find the row for 30 monthly payments. - The cell at this intersection is **9.64**. **Options for h value:** - 13.64 - 9.64 *(Correct)* - 11.35 - 8.00 This information is essential for borrowers to estimate the cost of loans over different periods and interest rates accurately. --- Use these insights to better manage loan expectations and financial plans.
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