The finance charge if Belinda Raven is interested in buying a solar energy system and purchased it from Sun-Catches Inc. at a cash price of $ 1 , 899 . The salesperson informs that if Belinda qualifies for an installment loan then 10 % down payment will be paid now, monthly payment of $ 88.35 per month for 24 months.

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Answer 1

Question

Chapter 13.II, Problem 45RE

(a)

To determine

To calculate: The finance charge if Belinda Raven is interested in buying a solar energy system and purchased it from Sun-Catches Inc. at a cash price of $1,899. The salesperson informs that if Belinda qualifies for an installment loan then 10% down payment will be paid now, monthly payment of $88.35 per month for 24 months.

(b)

To determine

To calculate: The total deferred payment price for the installment if Belinda Raven is interested in buying a solar energy system and purchased it from Sun-Catches Inc. at a cash price of $1,899. The salesperson informs that if Belinda qualifies for an installment loan then 10% down payment will be paid now, monthly payment of $88.35 per month for 24 months and total amount of installment payment is $2,120.4.

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Answer 2

Question

Chapter 13.II, Problem 45RE

(a)

To determine

To calculate: The finance charge if Belinda Raven is interested in buying a solar energy system and purchased it from Sun-Catches Inc. at a cash price of $1,899. The salesperson informs that if Belinda qualifies for an installment loan then 10% down payment will be paid now, monthly payment of $88.35 per month for 24 months.

(b)

To determine

To calculate: The total deferred payment price for the installment if Belinda Raven is interested in buying a solar energy system and purchased it from Sun-Catches Inc. at a cash price of $1,899. The salesperson informs that if Belinda qualifies for an installment loan then 10% down payment will be paid now, monthly payment of $88.35 per month for 24 months and total amount of installment payment is $2,120.4.

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Answer 3

Question

Chapter 13.II, Problem 45RE

(a)

To determine

To calculate: The finance charge if Belinda Raven is interested in buying a solar energy system and purchased it from Sun-Catches Inc. at a cash price of $1,899. The salesperson informs that if Belinda qualifies for an installment loan then 10% down payment will be paid now, monthly payment of $88.35 per month for 24 months.

(b)

To determine

To calculate: The total deferred payment price for the installment if Belinda Raven is interested in buying a solar energy system and purchased it from Sun-Catches Inc. at a cash price of $1,899. The salesperson informs that if Belinda qualifies for an installment loan then 10% down payment will be paid now, monthly payment of $88.35 per month for 24 months and total amount of installment payment is $2,120.4.

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Answer 4

Question

Chapter 13.II, Problem 45RE

(a)

To determine

To calculate: The finance charge if Belinda Raven is interested in buying a solar energy system and purchased it from Sun-Catches Inc. at a cash price of $1,899. The salesperson informs that if Belinda qualifies for an installment loan then 10% down payment will be paid now, monthly payment of $88.35 per month for 24 months.

(b)

To determine

To calculate: The total deferred payment price for the installment if Belinda Raven is interested in buying a solar energy system and purchased it from Sun-Catches Inc. at a cash price of $1,899. The salesperson informs that if Belinda qualifies for an installment loan then 10% down payment will be paid now, monthly payment of $88.35 per month for 24 months and total amount of installment payment is $2,120.4.

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Answer 5

Chapter 13.II, Problem 45RE

(a)

To determine

To calculate: The finance charge if Belinda Raven is interested in buying a solar energy system and purchased it from Sun-Catches Inc. at a cash price of $1,899. The salesperson informs that if Belinda qualifies for an installment loan then 10% down payment will be paid now, monthly payment of $88.35 per month for 24 months.

(b)

To determine

To calculate: The total deferred payment price for the installment if Belinda Raven is interested in buying a solar energy system and purchased it from Sun-Catches Inc. at a cash price of $1,899. The salesperson informs that if Belinda qualifies for an installment loan then 10% down payment will be paid now, monthly payment of $88.35 per month for 24 months and total amount of installment payment is $2,120.4.

Answer 6

Chapter 13.II, Problem 45RE

(a)

To determine

To calculate: The finance charge if Belinda Raven is interested in buying a solar energy system and purchased it from Sun-Catches Inc. at a cash price of $1,899. The salesperson informs that if Belinda qualifies for an installment loan then 10% down payment will be paid now, monthly payment of $88.35 per month for 24 months.

Answer 7

Chapter 13.II, Problem 45RE

(a)

To determine

To calculate: The finance charge if Belinda Raven is interested in buying a solar energy system and purchased it from Sun-Catches Inc. at a cash price of $1,899. The salesperson informs that if Belinda qualifies for an installment loan then 10% down payment will be paid now, monthly payment of $88.35 per month for 24 months.

Answer 8

(b)

To determine

To calculate: The total deferred payment price for the installment if Belinda Raven is interested in buying a solar energy system and purchased it from Sun-Catches Inc. at a cash price of $1,899. The salesperson informs that if Belinda qualifies for an installment loan then 10% down payment will be paid now, monthly payment of $88.35 per month for 24 months and total amount of installment payment is $2,120.4.

Answer 9

(b)

To determine

To calculate: The total deferred payment price for the installment if Belinda Raven is interested in buying a solar energy system and purchased it from Sun-Catches Inc. at a cash price of $1,899. The salesperson informs that if Belinda qualifies for an installment loan then 10% down payment will be paid now, monthly payment of $88.35 per month for 24 months and total amount of installment payment is $2,120.4.

Answer 10

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Answer 11

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Answer 12

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Answer 13

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Solution Summary: The author calculates the finance charge if Belinda Raven is interested in buying a solar energy system from Sun-Catches Inc.

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