Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to rounding of percents in table lookup.). (Use 13% for table lookup.). (Use the loan amortization table) (Round your answers to the nearest cent.) Number of Purchase price of a used car $5,833 monthly payments Amount financed Total of monthly payments $5,889.76 Down Total finance payment $1,303 charge $1,359.76 APR 48 $4,530 13% Monthly Payment By table By formula
Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to rounding of percents in table lookup.). (Use 13% for table lookup.). (Use the loan amortization table) (Round your answers to the nearest cent.) Number of Purchase price of a used car $5,833 monthly payments Amount financed Total of monthly payments $5,889.76 Down Total finance payment $1,303 charge $1,359.76 APR 48 $4,530 13% Monthly Payment By table By formula
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 7FPE: Calculating interest and APR of installment loan. Assuming that interest is the only finance charge,...
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