Chapter 5 Find the interest in each exercise below. (P = principal, R = rate, T = time) P R T Interest 1. $3,000 13% 3 yr 2. $8,500 8% 1.5 yr 3. $21,500 15% 0.5 yr 4. The cash price of a home entertainment center is $4,500. It can be bought on an installment plan for $500 down and $137 a month for 36 months. a. What is the installment price of the home entertainment center? b. What is the finance charge? 5. Rita Zink and her two children live in subsidized housing and pay monthly rent of $230. The cost of heating is included in the rent. The electric bill averages $56 a month while the water and sewage bill averages $35 for every 3 months of use. Telephone costs average $19.50 a month. Rita carries no renters insurance on her personal property. What is Rita's total annual cost of renting? Chapter 6 6. Anna wants to buy a home priced at $67,000. She will need to make a down payment of 15% and estimates closing costs of 2.8% of the purchase price. a. What amount will Anna need for the down payment? b. What amount will Anna