Question: From this partial advertisement Used car $ 8 6 . 8 3 per month for 6 0 months Cash price $ 3 , 7 0
From this partial advertisement Used car $ per month for months Cash price $ Down payment $ a Calculate the amount financed. Amount financed b Calculate the finance charge. Do not round intermediate calculations. Round your answer to the nearest cent. Finance change Finance change Cc Calculate the deferred payment price. Do not round intermediate calculations. Round your answer to the nearest cent. Deferred payment price d Calculate the APR by formula Do not round intermediate calculations. Round your answer to the nearest tenth percent. APR by formula e Calculate the monthly payment by formulaDo not round intermediate calculations. Round your answer to the nearest cent. Monthly payment by formulaPat Radigan is planning to buy a Toyota hybrid for $ with $ down and plans to finance the car. Citizens' Financial Bank
quoted a finance charge at for months; Charter One Bank quoted him a finance charge at for months.
Required:
a What would be his monthly payment to Citizens' Financial Bank?
Note: Do not round intermediate calculations. Round your answer to the nearest cent.
Monthly payment
b What would be his monthly payment to Charter One Bank?
Note: Do not round intermediate calculations. Round your answer to the nearest cent.
Monthly payment
c How much more would his monthly payment be on the month loan?
Note: Do not round intermediate calculations. Round your answer to the nearest cent.
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