Math
Advanced MathContemporary Mathematics for Business & ConsumersBob Johnson found a car he wanted to buy at Autorama Auto Sales. He had the option of paying $12,500 in cash or financing the car with a 4-year installment loan. The loan required a 15% down payment and equal monthly payments of $309.90 for 48 months. a. What is the finance charge on the loan? b. What is the total deferred payment price of Bob’s car?

Bob Johnson found a car he wanted to buy at Autorama Auto Sales. He had the option of paying $12,500 in cash or financing the car with a 4-year installment loan. The loan required a 15% down payment and equal monthly payments of $309.90 for 48 months. a. What is the finance charge on the loan? b. What is the total deferred payment price of Bob’s car?

BuyFind

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
Publisher: Cengage Learning
ISBN: 9781305585447
BuyFind

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
Publisher: Cengage Learning
ISBN: 9781305585447

Solutions

Chapter
Section
Problem 4TIE
Problem 5TIE
Problem 6TIE
Problem 7TIE
Problem 8TIE
Problem 9TIE
Problem 1RE
Problem 2RE
Problem 3RE
Problem 4RE
Problem 5RE
Problem 6RE
Problem 7RE
Problem 8RE
Problem 9RE
Problem 10RE
Problem 11RE
Problem 12RE
Problem 13RE
Problem 14RE
Problem 15RE
Problem 16RE
Problem 17RE
Problem 18RE
Problem 19RE
Problem 20RE
Problem 21RE
Problem 22RE
Problem 23RE
Problem 24RE
Problem 25RE
Problem 26RE
Problem 27RE
Problem 28RE
Problem 29RE
Problem 30RE
Problem 31RE
Problem 32RE
Problem 33RE
Problem 34RE
Problem 35RE
Problem 36RE
Problem 37RE
Problem 38RE
Problem 39RE
Problem 40RE
Problem 41RE
Problem 42RE
Problem 43RE
Problem 44RE
Problem 45RE
Problem 46RE
Problem 47RE
Problem 48RE
Problem 49RE
Problem 50RE
Problem 51RE
Problem 52RE
Problem 53RE
Problem 54RE
Problem 55RE
Chapter 13.II, Problem 4TIE
Textbook Problem

Bob Johnson found a car he wanted to buy at Autorama Auto Sales. He had the option of paying $12,500 in cash or financing the car with a 4-year installment loan. The loan required a 15% down payment and equal monthly payments of $309.90 for 48 months.

a. What is the finance charge on the loan?

b. What is the total deferred payment price of Bob’s car?

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Chapter 13.I,
Problem 18RE
Chapter 13.II,
Problem 5TIE

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Chapter 13 Solutions

Contemporary Mathematics for Business & Consumers
Ch. 13.I - Mike Dennis has a Bank of America account with an...Ch. 13.I - Kendra Wolf has a Bank of America revolving credit...Ch. 13.I - Angler Marine has a $75,000 line of credit with...Ch. 13.I - Calculate the missing information on the following...Ch. 13.I - Calculate the missing information on the following...Ch. 13.I - Calculate the missing information on the following...Ch. 13.I - Calculate the missing information on the following...Ch. 13.I - Calculate the missing information on the following...Ch. 13.I - Calculate the missing information on the following...Ch. 13.I - Anny Winslow has a Bank of America revolving...
Ch. 13.I - Kathy Hansen has a revolving credit account. The...Ch. 13.I - Kathy Hansen has a revolving credit account. The...Ch. 13.I - Kathy Hansen has a revolving credit account. The...Ch. 13.I - Kathy Hansen has a revolving credit account. The...Ch. 13.I - Kathy Hansen has a revolving credit account. The...Ch. 13.I - Calculate the average daily balance for November...Ch. 13.I - 14. Calculate the average daily balance for...Ch. 13.I - 15. Calculate the average daily balance for...Ch. 13.I - Carolyn Salkind has a Bank of America revolving...Ch. 13.I - The Freemont Bank offers a business line of credit...Ch. 13.I - The Jewelry Exchange has a $30,000 line of credit...Ch. 13.II - Bob Johnson found a car he wanted to buy at...Ch. 13.II - Eileen Townsend bought a bedroom set from El...Ch. 13.II - Erica Larsen purchased a living room set for...Ch. 13.II - Christina Pitt repaid a $2,200 installment loan...Ch. 13.II - Computer Mart uses a finance company that is...Ch. 13.II - Mark Sanchez financed a $4.000 piano with an...Ch. 13.II - Calculate the amount financed, the finance charge,...Ch. 13.II - Calculate the amount financed, the finance charge,...Ch. 13.II - Calculate the amount financed, the finance charge,...Ch. 13.II - Calculate the amount financed, the finance charge,...Ch. 13.II - Calculate the amount financed, the finance charge,...Ch. 13.II - Calculate the amount financed, the finance charge,...Ch. 13.II - Calculate the amount financed, the finance charge,...Ch. 13.II - Calculate the amount financed, the finance charge,...Ch. 13.II - Calculate the amount financed, the finance charge,...Ch. 13.II - Calculate the amount financed, the finance charge,...Ch. 13.II - Calculate the amount financed, the finance charge,...Ch. 13.II - Calculate the amount financed, the finance charge,...Ch. 13.II - Calculate the amount financed, the finance charge,...Ch. 13.II - Calculate the amount financed, the finance charge,...Ch. 13.II - Calculate the finance charge, the finance charge...Ch. 13.II - Calculate the finance charge, the finance charge...Ch. 13.II - Calculate the finance charge, the finance charge...Ch. 13.II - Calculate the finance charge, the finance charge...Ch. 13.II - Calculate the finance charge, the finance charge...Ch. 13.II - Calculate the finance charge, the finance charge...Ch. 13.II - Calculate the finance charge and the annual...Ch. 13.II - Calculate the finance charge and the annual...Ch. 13.II - Calculate the finance charge and the annual...Ch. 13.II - Calculate the finance charge and the annual...Ch. 13.II - Calculate the finance charge and the annual...Ch. 13.II - Calculate the finance charge and the annual...Ch. 13.II - Calculate the finance charge and the monthly...Ch. 13.II - Calculate the finance charge and the monthly...Ch. 13.II - Calculate the finance charge and the monthly...Ch. 13.II - Calculate the finance charge and the monthly...Ch. 13.II - Calculate the finance charge and the monthly...Ch. 13.II - Calculate the finance charge and the monthly...Ch. 13.II - Calculate the missing information for the...Ch. 13.II - Calculate the missing information for the...Ch. 13.II - Calculate the missing information for the...Ch. 13.II - Calculate the missing information for the...Ch. 13.II - Calculate the missing information for the...Ch. 13.II - Calculate the missing information for the...Ch. 13.II - You are the loan department supervisor for the...Ch. 13.II - You are the loan department supervisor for the...Ch. 13.II - You are the loan department supervisor for the...Ch. 13.II - You are the loan department supervisor for the...Ch. 13.II - You are the loan department supervisor for the...Ch. 13.II - You are the loan department supervisor for the...Ch. 13.II - 45. Belinda Raven is interested in buying a solar...Ch. 13.II - 46. Meghan Pease purchased a small sailboat for...Ch. 13.II - 47. Valerie Ross financed a cruise to the Bahamas...Ch. 13.II - 48. Doug Black bought a jet ski with a 9% add-on...Ch. 13.II - Olivia Fast found a timeshare offer entitling her...Ch. 13.II - Tim Houston purchased a wall unit for $2,400. He...Ch. 13.II - First National Bank offers a 36-month installment...Ch. 13.II - At a recent boat show, Nautica Bank was offering...Ch. 13.II - 53. Find the sum of the digits of a. 24 b. 30 Ch. 13.II - 54. a. What is the rebate fraction of a 36-month...Ch. 13.II - Charlie Allen financed a $3,500 Nautilus home gym...Ch. 13 - ____ credit is a loan arrangement in which there...Ch. 13 - The effective or true annual interest rate being...Ch. 13 - Loans that are backed by the borrowers promise to...Ch. 13 - 4. Loans made on a continuous basis and billed...Ch. 13 - 5. Name the two most common methods used to...Ch. 13 - 6. Write the formula for calculating the average...Ch. 13 - 7. A pre-approved amount of open-end credit is...Ch. 13 - 8. The interest rate of most lines of credit is...Ch. 13 - A loan made for a specified number of equal...Ch. 13 - The portion of the purchase price of an asset paid...Ch. 13 - A popular method for calculating the interest on...Ch. 13 - 12. Write the formula for calculating the APR of...Ch. 13 - 13. The finance charge ________ is the unearned...Ch. 13 - The most common method for calculating the finance...Ch. 13 - John Dugan's revolving credit account has an...Ch. 13 - 2. Daniel Noguera has a Bank of America revolving...Ch. 13 - Charlotte Williams has a Visa account. The finance...Ch. 13 - 4. Calculate the average daily balance for January...Ch. 13 - Mel Arrandt has a Bank of America account with a...Ch. 13 - Alpine Construction, Inc. has a $100,000 line of...Ch. 13 - George Bell bought an ultralight airplane for...Ch. 13 - 8. David Sporn bought a saddle from Linville...Ch. 13 - 9. Buster Blaster Recording Studio purchased a new...Ch. 13 - Chris Manning purchased a $7,590 motorcycle with a...Ch. 13 - 11. SkyHigh Aircraft Sales uses the Executive...Ch. 13 - 12. After making 11 payments on a 36-month loan,...Ch. 13 - An Auntie Annes franchise financed a $68,000...Ch. 13 - 14. You are a salesperson for Mega Marine Boat...Ch. 13 - 15. Joe Keener found the accompanying ad for a...

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