Brenda is a beautician who is opening her own salon in her home. She needs $8500 to

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Brenda is a beautician who is opening her own salon in her home. She needs $8500 to purchase furniture and equipment. Brenda makes a 10% down payment and finances the balance with a 48-month fixed installment loan with an APR of 4%.

(a) Determine Brenda’s finance charge.

(b) Determine Brenda’s monthly payment.

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A Survey of Mathematics with Applications

ISBN: 978-0134112107

10th edition

Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde

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Question Posted: Jan 28, 2019 07:25 AM

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Brenda is a beautician who is opening her own salon in her home. She needs $8500 to

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a From Table 102 the finance charge per 100 at 4 for 48 payments is 838 Table 10...View the full answer

A Survey of Mathematics with Applications

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