From this partial advertisement: $123.86 per month for 60 months $5,200 used car cash price $50 down payment a. Calculate the amount financed. Amount financed b. Calculate the finance charge. (Round your answer to the nearest cent.) Finance charge c. Calculate the deferred payment price. (Round your answer to the nearest cent.)

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 4MC: A car dealership sells a car to a customer for $35,000. The customer makes a 10% down payment, and...
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c. Calculate the deferred payment price. (Round your answer to the nearest cent.)
Deferred payment price
d. Calculate the APR by (Use Table 14.1 and Table 14.1(b)). (Round your answers to 2 decimal places.)
APR
between
and
e. Calculate monthly payment (by formula). (Round your answer to the nearest cent.)
Monthly payment
96
Transcribed Image Text:2F%252Fblackboard.waketech.edu%25 c. Calculate the deferred payment price. (Round your answer to the nearest cent.) Deferred payment price d. Calculate the APR by (Use Table 14.1 and Table 14.1(b)). (Round your answers to 2 decimal places.) APR between and e. Calculate monthly payment (by formula). (Round your answer to the nearest cent.) Monthly payment 96
From this partial advertisement:
$123.86 per month for 60 months
$5,200 used car cash price
$50 down payment
a. Calculate the amount financed.
Amount financed
b. Calculate the finance charge. (Round your answer to the nearest cent.)
Finance charge
c. Calculate the deferred payment price. (Round your answer to the nearest cent.)
Transcribed Image Text:From this partial advertisement: $123.86 per month for 60 months $5,200 used car cash price $50 down payment a. Calculate the amount financed. Amount financed b. Calculate the finance charge. (Round your answer to the nearest cent.) Finance charge c. Calculate the deferred payment price. (Round your answer to the nearest cent.)
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