PFIN 7:STUDENT EDITION-TEXT
7th Edition
ISBN: 9780357033616
Author: Billingsley
Publisher: CENGAGE L
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Chapter 7, Problem 7FPE
Calculating interest and APR of installment loan. Assuming that interest is the only finance charge, how much interest would be paid on a $5,000 installment loan to be repaid in 36 monthly installments of $166.10? What is the APR on this loan?
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Assuming that the interest is the only finance charge, how much interest would be paid on a 5,000 installment loan to be repaid in 36 monthly installments 166.10? What is the APR on this loan?
asssuming that the interest is the only finance charge, how much interest would be paid on 5,000 installment loan to be repaid in 36 moonthly installment 166.10? what is the apr on this loan?
Find the total installment cost and the finance charge for an installment loan with these conditions. Amount financed: $3000
Down payment: $500
Cash price: $3500
Number of Payments: 12
Amount of Payment: $275
What is the total installment cost? What is the finanace charge?
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PFIN 7:STUDENT EDITION-TEXT
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