MathAlgebraQ&A LibraryLandon Wallin is an auto mechanic who wishes to start his own business. He will need $3900 to purchase tools and equipment. Landon decides to finance the purchase with a 36-monthfixed installment loan with an APR of 4.5%. a) Determine Landon's finance charge. b) Determine Landon's monthly payment.

Question

Landon Wallin is an auto mechanic who wishes to start his own business. He will need $3900 to purchase tools and equipment. Landon decides to finance the purchase with a 36-monthfixed installment loan with an APR of 4.5%.

a) Determine Landon's finance charge.

b) Determine Landon's monthly payment.

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