Question 3 10 pts Question 3 (10 points): A heavy construction company plans to purchase a front loader with a price tag of $90,000. The company plans to finance the purchase with a loan. The loan stipulates uniform monthly payment at 6% annual percentage rate (APR) for 5 years. What is the effective interest rate of the loan? (5 points) . What is the monthly payment? (5 points) 12% Compound Inter Factors 1/29 PAF AP 1 Sinking Fund Factor Find A Glven F AUF 1.0000 49 3317 3481 190 1616 1407 1228 TON9 0978 Present Worth Factor Find P Given PIA 0.995 1983 2.970 3.951 4.926 3.895 Arithmetic Gradient Gradient Gradient Uniform Present Series Find A Find P Given Given AVG 0 0 0.490 0.991 0.995 2.959 1.94 1.90 9.00 14.560 2.90 20.44 3.474 3.967 OS 1 3 4 5 5 6 7 7 9 10 9 10 11 OK 13 14 15 16 17 15 19 20 21 .9233 Compound interest Factors Uniform Payment Series Capital Compound Recovery Amount Factor Factor Find A Find Given P Given A FA 1.0050 1.000 3038 2005 1367 3.013 2331 4010 2010 5.050 1696 6.076 7.106 1278 2.141 11.30 9.182 102 10.728 0937 11:29 OSI 12136 0795 13.397 0741 14,464 0694 15.537 0652 16,614 0615 17.2 0582 IR.76 0553 19.30 0527 201979 0503 22054 0481 23.194 0461 24310 0143 25.432 0427 26.559 0411 27.692 0197 BRO 0384 29.975 0371 31.124 0360 13.20 0304 39.336 0276 44.159 0235 54.00 0227 56,645 Single Payment Compound Present Amount Worth Factor Factor Find Find P Given P Given F FAP 1.005 9950 1010 9901 LOIS 9831 1030 9802 1025 9754 1.030 9705 1.036 9657 1.041 9600 10-16 9561 1.051 9513 1 OSS 9166 1.062 9419 1467 9372 1.072 9326 1078 9279 1.083 IOS 9187 1.094 .9141 1.099 9096 1105 9051 1.110 9006 1.116 .8961 1.122 .8916 1.127 .8872 1.111 8828 1 8784 1.144 8740 1.150 8697 1.156 8653 1.161 8610 1.197 .8336 1.221 8191 1.270 7871 123 .7793 1296 7716 1.149 7414 1.418 .7053 F432 6983 1.490 6710 1520 6577 1567 6383 1614 6195 1.647 6073 1.680 3953 1819 5496 J.JIO 3021 6.023 .1660 10.957 11 12 13 14 15 16 17 18 19 7.833 779 9.70 10,677 11.619 12.556 13.489 14417 15 340 16259 17.173 18 ON 18.987 19.SK 20.784 21.676 22.563 23.446 24.324 25.198 26.065 26.933 27.794 32871 36.172 4230 44.143 45.690 52.855 63.215 74 86.50 99.574 113.427 126 125 143.66 160037 177 237 195.25 214.070 233.680 5.441 5.931 6.419 6. 7394 7.80 8166 BORSO 9.114 9.817 10.300 10.751 11251 11.741 12.30 12.69 13.175 13.651 14 127 16962 21 OSTI 0746 069 0614 0602 0565 0532 0503 0477 0453 0431 0411 .0393 0377 0361 0947 0334 0321 0310 0254 0226 OIRS 0177 0169 0143 0120 0116 0102 00961 OOK 0814 00773 00735 00610 0216 00100 23 24 25 24 25 26 27 28 2N 29 30 36 10 275.273 27233 319.955 303.49 367.672 392.500 557564 NT 50 95893 1033.70 36 40 18 so 52 GO 51.726 58.9.19 60 70 72 NO 84 73 so 65.802 0193 0170 0166 0152 0146 2013 0131 0127 0124 011 22544 21.163 24378 2007 32454 11151 36 38 38 525 41.145 4365 450361 47025 53551 95113 12334 69.770 83566 86.09 9R. 104.074 113311 122829 129.54 135970 161 SO 462.041 10045 96 100 104 120 340 JO 480 100 104 1 AS 1913AS 2012.15 2434 264057 3976.03 3304.19 35620 38059 482252 1341556 2140332 2758837 72:331 76095 78.50 NO2 90.074 139.381 166.792 181.748 00716 DO 00550 340 360 INO (160 OSO