Jamie needs a new roof on her house. The cash cost is $5700. She decides to finance the project by paying 13.0% down, with the balance paid in 24 monthly payments of $222. a) What finance charge will Jamie pay? b) What is the APR to the nearest half percent?

Jamie needs a new roof on her house. The cash cost is $5700. She decides to finance the project by paying 13.0% down, with the balance paid in 24 monthly payments of $222. a) What finance charge will Jamie pay? b) What is the APR to the nearest half percent?

Elementary Geometry For College Students, 7e

7th Edition

ISBN:9781337614085

Author:Alexander, Daniel C.; Koeberlein, Geralyn M.

Publisher:Alexander, Daniel C.; Koeberlein, Geralyn M.

Chapter8: Areas Of Polygons And Circles

Section8.4: Cicumference And Area Of A Cicle

Problem 46E: A tabletop is semicircular when its three congruent drop-leaves are used. By how much has the tables...

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Question

Jamie needs a new roof on her house. The cash cost is

$5700.

She decides to finance the project by paying

13.0%

down, with the balance paid in

monthly payments of

$222.

a) What finance charge will Jamie pay?

b) What is the APR to the nearest half percent?

a) The finance charge is

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Jamie needs a new roof on her house. The cash cost is ​$5700. She decides to finance the project by paying 13.0​% ​down, with the balance paid in 24 monthly payments of ​$222. ​a) What finance charge will Jamie​ pay? ​b) What is the APR to the nearest half​ percent?

Jamie needs a new roof on her house. The cash cost is $5700. She decides to finance the project by paying 13.0% down, with the balance paid in 24 monthly payments of $222. a) What finance charge will Jamie pay? b) What is the APR to the nearest half percent?