Landon Wallin is an auto mechanic who wishes to start his own business. He will need $4300 to purchase tools and equipment. Landon decides to finance the purchase with a 60-month fixed installment loan with an APR of 4.5%. a) Determine Landon's finance charge. b) Determine Landon's monthly payment. 4. 1 Click the icon to view the partial APR table. a) Landon's finance charge is $ (Round to the nearest cent as needed.) b) Landon's monthly payment is $ (Round to the nearest cent as needed.) 1: Partial APR Table Annual Percentage Rate Number of 4.5% 5.0% 5.5% 6.0% 6.5% payments (Finance charge per $100 of amount financed) 36 7.09 7.90 8.71 10.34 13.83 17.40 9.52 48 9.46 10.54 11.63 12.73 60 11.86 13.23 14.61 16.00
Landon Wallin is an auto mechanic who wishes to start his own business. He will need $4300 to purchase tools and equipment. Landon decides to finance the purchase with a 60-month fixed installment loan with an APR of 4.5%. a) Determine Landon's finance charge. b) Determine Landon's monthly payment. 4. 1 Click the icon to view the partial APR table. a) Landon's finance charge is $ (Round to the nearest cent as needed.) b) Landon's monthly payment is $ (Round to the nearest cent as needed.) 1: Partial APR Table Annual Percentage Rate Number of 4.5% 5.0% 5.5% 6.0% 6.5% payments (Finance charge per $100 of amount financed) 36 7.09 7.90 8.71 10.34 13.83 17.40 9.52 48 9.46 10.54 11.63 12.73 60 11.86 13.23 14.61 16.00
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Question
Transcribed Image Text:Landon Wallin is an auto mechanic who wishes to start his own business. He will need $4300 to purchase tools and
equipment. Landon decides to finance the purchase with a 60-month fixed installment loan with an APR of 4.5%.
a) Determine Landon's finance charge.
b) Determine Landon's monthly payment.
4.
1
Click the icon to view the partial APR table.
a) Landon's finance charge is $
(Round to the nearest cent as needed.)
b) Landon's monthly payment is $
(Round to the nearest cent as needed.)
1: Partial APR Table
Annual Percentage Rate
Number of
4.5%
5.0%
5.5%
6.0%
6.5%
payments
(Finance charge per $100 of amount financed)
36
7.09
7.90
8.71
10.34
13.83
17.40
9.52
48
9.46
10.54
11.63
12.73
60
11.86
13.23
14.61
16.00
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