Answered: Peg plans to have laser eye surgery.…

Peg plans to have laser eye surgery. The total cost of $2500 will be paid with a 48-month installment loan with an APR of 4.5%. Determine Peg's total finance charge.

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter7: Using Consumer Loans

Section: Chapter Questions

Problem 6FPE

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Peg plans to have laser eye surgery. The total cost of $2500 will be paid with a 48-month installment loan with an APR of 4.5%. Determine Peg's total finance charge.

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