On July $6,$ the billing date, Verna had a balance due of $$238\mathrm{.}63$ on her credit card. Her card charges an interest rate of $1\mathrm{.}25\%$ per month. The transactions he made are to the right.

a$)$ Find the finance charge on August $6,$ using the previous balance method.

b$)$ Find the new balance on August $6.$

a$)$ The finance charge on August $6$ is $

$($Round to the nearest cent as needed.$)$

b$)$ The new balance on August $6$ is $

$($Round to the nearest cent as needed.$)$

Verna made the following transactions during the month.

$\backslash$table$[[$July $14,\backslash$table$[[$Charge:$],[$Office supplies$]],$$$37\mathrm{.}62$

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instead of making his $24$th payment, Ray wishes to repay his loan in full. Complete parts a$)$ through c$).$

Click the icon to view the table of interest rates.

a$)$ Determine the APR of the installment loan.

APR$=9$

b$)$ How much interest will Ray save by paying off the loan early? $($Use the actuarial method$)$

Interest saved $=$$ $($Round to the nearest cent.$)$

table of interest rates

c$)$ What is the total amount due to pay off the loan?

The total amount due $=$$ $($Round to the nearest cent.$)$

$\backslash$table$[[\backslash$table$[[$Number of$],[$Payments$]],$Annual Percentage Rate$],[3\mathrm{.}0\%,3\mathrm{.}5\%,4\mathrm{.}0\%,4\mathrm{.}5\%,5\mathrm{.}0\%,5\mathrm{.}5\%,6\mathrm{.}0\%,6\mathrm{.}5\%,7\mathrm{.}0\%$