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Advanced MathContemporary Mathematics for Business & ConsumersCalculate the finance charge, the finance charge per $100, and the annual percentage rate for the following installment loans by using the APR table, Table 13-1. Amount Number of Monthly Finance Finance Charge Financed Payments Payment Charge per $100 APR 20. $17.930 48 $540.47BuyFind*arrow_forward*

8th Edition

Robert Brechner + 1 other

Publisher: Cengage Learning

ISBN: 9781305585447

Chapter 13.II, Problem 20RE

Textbook Problem

Calculate the finance charge, the finance charge per $100, and the annual percentage rate for the following installment loans by using the APR table, Table 13-1.

Amount |
Number of |
Monthly |
Finance |
Finance Charge |
||||||||

Financed |
Payments |
Payment |
Charge |
per $100 |
APR |
|||||||

20. | $17.930 | 48 | $540.47 |

Contemporary Mathematics for Business & Consumers

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a. 24
b. 30
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