Question: Solve the problem. Use an annual percentage rate table if necessary. Annual Percentage Rate Table for Monthiy Payment Pians Number Annual Percentage Rate of 4.0%

Solve the problem. Use an annual percentage rate table if necessary. Annual Percentage Rate Table for Monthiy Payment Pians Number Annual Percentage Rate of 4.0% 45% 5.0% 3.5% 6.0% 6.5% 7.0% 7.5% 8.0% 0.5% 0.0% 9.5% 10.0 Payments Finance charge per $100 of amount financed 117 1.32 1,46 1 1.76 1.90 2.05 220 2.35 249 2.642.79 2.94 2.18 2.45 2.73 3.00 3.28 3.56 3.83 4.11 4.39 4.6 494 5.22 5.50 3.20 3.60 4.00 4.41 4.82 5.22 5.63 6.04 6.45 6.86 7.28 7.69 8.10 12 18 24 4.22 4.75 5.29 583 6.37 6.91 7458.00 8.55 9.09 9.64 10.19 10.75 30 36 48 60 10.50 11.86 13.23 14.6 16.00 17,40 18.81 20.23 21.66 23.10 24.55 26.01 27.48 5.25 5.92 6.59 726 7.94 8.61 9.30 9.98 10.66 11.35 12.04 12.74 13.43 6.29 7.09 7.90 871 9.52 10.34 11.16 11.98 12.81 13,64 14.48 15.32 16.16 8.38 9.46 10.54 11.63 12.73 13.83 14.94 16.0 17.18 18.31 1945 20.59 21.74 You may choose to use the formula for unearned interest: you may choose to use the TVM solver Jessica used a fixed installment loan from her bank to finance her used car purchase. She borrowed $10,000 and has a 60 monthly payments of $207.58 each. Instead of making her 12th payment, Jessica decides to pay the remaining balance on the loan. What is the total amount due to pay off the balance (use the actuarial method)? a) $8375.70 b) $8549.25 c) $8679.87 d) $7934.20
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