Question: HI, I would like figuring out the amount financed, total finance charge, and APR for the problem below. I have attached the tables the problem

HI, I would like figuring out the amount financed, total finance charge, and APR for the problem below. I have attached the tables the problem asks to refer to below the problem. Thank you.

HI, I would like figuring out the amount financed, total finance charge, and APR for the problem below. I have attached the tables the problem asks to refer to below the problem. Thank you. Calculate (a)

Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by table lookup. (Use Table 14.1 and Table 14.1(b) Purchase price of a used car $4,295 Amount financed Total of monthly payments $6,044 Total finance charge Number of paymentmonthly payments APR $85 60 (Click to select); 15.75% to 16.00% 15.50% to 15.75% 15.25% to 15.50%

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!

Business Math 56 Exam #2Instructor:Jen Dinsmore Hanson Name ___________________ To receive partial credit on any incorrect answer, you must include your work with this exam.This work must be clearly...

Module 3: Critical Thinking Grade: N/A Critical Thinking Assignment (90 Points) Important! Read First Choose one of the following two assignments to complete this week. Do not do both assignments....

Folder. Module 3: Consumer Mathematics Module 3: Critical Thinking Grade: N/A Critical Thinking Assignment (90 Points) Important! Read First Choose one of the following two assignments to complete...

Hi, I would like help figuring out the solutions to the amount financed, total finance charge and APR please. I have added the 2 tables it asks to refer to below the problem. Thank you. Calculate (a)...

Exam 1 Business Math Q1. The number 49,842 rounded to the nearest thousand is: a. 50,000 b. 49,000 c. 49,900 d. 49,800 Q2. The number 70624020 should be written: a. 70,624,020.0 b. 7,062,402,0 c....

UNIT 5 QZ, Q-20 UNIT 5 / UNIT 8 QUESTIONS KEEP ANSWERS SEPARATE BY UNITS UNIT II STUDY GUIDE Consumer Mathematics Reading Assignment See information below. Key Terms 1. Add-on interest method 2....

Hi, I would like help figuring out the monthly payment by table and by formula in the blank spaces below. I have attached the table the problem asks to refer to below. se 15.5% Calculate the monthly...

Please answer all the questions 1. The local credit union offers a 48-month installment loan with an APR of 15.5% on used cars. Tracy would like to use the loan to finance a used truck costing...

problem 1 needs to be filled out with tax table provided. please make sure all calculations are shown. I need this done by 11:30 PM tonight. thanks. Final Exam - Problem 1 50 Points Name: 1. Complete...

Answer appropriately he Court Decides Perin v. Hayne 210 n.W.2d 609 (Iowa 1973) McCormick, J. This is an appeal from a directed verdict for a doctor in a malpractice action. We affirm. The claim...

For each electron in a ground-state Beryllium atom, select the set of quantum numbers that represents it. Check all that apply. n = 1, l= 0, ml= 1, ms= 1/2 n = 2, l= 0, ml= 0, ms= 1 n = 1, l= 0, ml=...

Prepare general journal entries for the following transactions: May 22 Received a 30-day, 9% note in payment for merchandise sale of $22,000. June 21 Received $165.00 cash (interest) on the old (May...

When an accountant compiles the financial statements of a nonissuer in accordance with Statements on Standards for Accounting and Review Services, the accountant s report should include: A . A...

Which of the following is an incorrect statement about information asymmetry? a. Information asymmetry does not exist in a perfect asset market. O b. Moral hazard can only occur after a transaction...