Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage rate for the installment l
Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage rate for the installment l
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 1EB: Everglades Consultants takes out a loan in the amount of $375,000 on April 1. The terms of the loan...
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Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage rate for the installment loan by using the APR table, Table 13-1. (Round dollar amounts to the nearest cent.)
Amount Financed |
Number of Payments |
Monthly Payment |
Finance Charge |
Finance Charge per $100 |
APR |
---|---|---|---|---|---|
$13,000 | 36 | $467.00 | $ | $ | % |
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