Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to rounding of percents in table lookup.) (Use 15.5% for table lookup.) (Use the loan amortization table.) (Round your answers to the nearest cent.) Purchase price of a used car Down payment Number of monthly payments Amount financed Total of monthly payments Total finance charge APR $4,195 $95 60 $ 4,100 $5,944.00 $1,844.00 15.5% Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to rounding of percents in table lookup.) (Use 15.5% for table lookup.) (Use the loan amortization table.) (Round your answers to the nearest cent.) ****TABLE ATTACHED***** 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 15.5% for table lookup.) (Use the loan amortization table.) (Round your answers to the nearest cent.) Purchase price of a used car Down payment Number of monthly payments Amount financed Total of monthly payments Total finance charge APR $4,195 $95 60 $ 4,100 $5,944.00 $1,844.00 15.5% Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to rounding of percents in table lookup.) (Use 15.5% for table lookup.) (Use the loan amortization table.) (Round your answers to the nearest cent.) ****TABLE ATTACHED***** Monthly Payment By table: By formula:
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 15MC: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual...
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Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to rounding of percents in table lookup.) (Use 15.5% for table lookup.) (Use the loan amortization table.) (Round your answers to the nearest cent.)
Purchase price of a used car |
Down payment |
Number of monthly payments |
Amount financed |
Total of monthly payments |
Total finance charge |
APR |
$4,195 | $95 | 60 | $ 4,100 | $5,944.00 | $1,844.00 | 15.5% |
Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to rounding of percents in table lookup.) (Use 15.5% for table lookup.) (Use the loan amortization table.) (Round your answers to the nearest cent.)
****TABLE ATTACHED*****
Monthly Payment
By table:
By formula:
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