Ramon Hernandez saw the following advertisement for a used Volkswagen Bug and decided to work out the numbers to be sure the ad had no errors. Cash price $7,940, Down payment $0, Annual percentage rate 16.03%, Deferred price $11,586.00 or 60 payments at $193.10 per month. What is the amount financed? What is he finance charge? What is the APR? What is the monthly payment by formula?  Calculate the monthly payment by table lookup at 16.00%

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Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.