Adrea wishes to take out an installment loan to finance the purchase of a small antique dining
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Question:
Adrea wishes to take out an installment loan to finance the purchase of a small antique dining set costing $71,500. Her loan requires a 22.5% down payment and equal payments of $2,557 for 40 months. What is the amount of the finance charge on this loan?
Related Book For
Engineering Economy
ISBN: 978-0132554909
15th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
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