Jamie needs a new roof on her house. The cash cost is $4300. She decides to finance the project by paying 13.0% down, with the balance paid in 12 monthly payments of $329. a) What finance charge will Jamie pay? b) What is the APR to the nearest half percent? Click the icon to view the APR table a) The finance charge is $ b) The APR is %.
Jamie needs a new roof on her house. The cash cost is $4300. She decides to finance the project by paying 13.0% down, with the balance paid in 12 monthly payments of $329. a) What finance charge will Jamie pay? b) What is the APR to the nearest half percent? Click the icon to view the APR table a) The finance charge is $ b) The APR is %.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Jamie needs a new roof on her house. The cash cost is $4300. She decides to finance the project by paying 13.0% down, with the balance paid in 12 monthly payments of $329.
a) What finance charge will Jamie pay?
b) What is the APR to the nearest half percent?
Click the icon to view the APR table
a) The finance charge is $
b) The APR is %.
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