Question: From this partial advertisement: $ 9 5 1 0 per momth for 6 0 months $ 4 , 1 0 0 used car cash price

From this partial advertisement:
$9510 per momth for 60 months $4,100 used car cash price $50 down payment
Aequired:
b. Calculate the amount financed
Note: Enter your answers to Parts 0,b and c as a whole number.
b. Calculate the finance charge
c. Calculate the deferred payment price.
d. Calculate the APR by formula.
Note: Round your answer to 2 decimal places.
e. Calculate monthly payment (by formula).
Note: Do not round intermediate calculations. Round your answer to the nearest cent.
\table[[a. Amount financed,$,4.050,],[b. Finance charge,$,1.656,],[c Deferred payment plice,,,],[d. APR by formia,,14.25,%],[- Monthly payment by formula,,,]]

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!