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.) Purchase price of a used car $5,793 Number of monthly payments Down payment $1, 283 Amount financed $4,510 Total of monthly payments $5,849.76 Total finance charge $1, 339.76 APR 48 13% Monthly Payment By table $ 121.00 By formula 24 120.00
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.) Purchase price of a used car $5,793 Number of monthly payments Down payment $1, 283 Amount financed $4,510 Total of monthly payments $5,849.76 Total finance charge $1, 339.76 APR 48 13% Monthly Payment By table $ 121.00 By formula 24 120.00
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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