Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on interest loan. (Round your answers to the nearest cent.) Purchase (Cash) Price Down Payment Amount Financed Add-on Interest Number of Payments Finance Charge Monthly Payment $50,900 25% $ 13.2% 60 $ $
Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on interest loan. (Round your answers to the nearest cent.) Purchase (Cash) Price Down Payment Amount Financed Add-on Interest Number of Payments Finance Charge Monthly Payment $50,900 25% $ 13.2% 60 $ $
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter7: Using Consumer Loans
Section: Chapter Questions
Problem 5FPE
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Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on interest loan. (Round your answers to the nearest cent.)
Purchase (Cash) Price |
Down Payment |
Amount Financed |
Add-on Interest |
Number of Payments |
Finance Charge |
Monthly Payment |
---|---|---|---|---|---|---|
$50,900 | 25% | $ | 13.2% | 60 | $ | $ |
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