Ilga purchased a new computer on a monthly purchase plan. The computer sold for $1495. Ilga paid

Question:

Ilga purchased a new computer on a monthly purchase plan. The computer sold for $1495. Ilga paid 5% down and $64 a month for 24 months.

(a) What finance charge did Ilga pay?

(b) What is the APR to the nearest half percent?

Ilga purchased a new computer on a monthly purchase plan.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

A Survey of Mathematics with Applications

ISBN: 978-0134112107

10th edition

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

See More Books

Question Posted: Jan 28, 2019 07:29 AM

See More Questions

Keenan is purchasing a new boat that sells for $56,214, including taxes and fees. He receives $17,000 as a trade-in on his old boat and uses the money as a down payment. Keenan finances the balance...
Jeff buys a new motorcycle for $12,000. He receives $4500 as a trade-in on his old motorcycle and uses the money as a down payment. Jeff finances the balance at 6.5% APR over 24 months. Before making...
On February 3, the billing date, Carol Ann had a balance due of $124.78 on her credit card. Her bank charges an interest rate of 1.25% per month. She made the following transactions during the month....
On November 1, 2020. Cheng Company (a U.S.-based company) forecasts the purchase of goods from a foreign supplier for 280,000 yuan. Cheng expects to receive the goods on April 30, 2021, and make...
What is the difference, if any, between the state of a business's commercial domicile and its state of incorporation?
Give two examples of management accounting information that would be prepared on a regular basis, and two examples of management accounting information that might be prepared on an ad hoc basis.
Explain how systems modeled on the human immune system might provide a solution to the problem of computer viruses or of unsolicited bulk e-mails (spam).
1. What does Rawls mean when he states that justice is the first virtue of social institutions? 2. How does he describe what he calls the original position and the veil of ignorance, from behind...
We have been studying the Boltzmann and Saha equations, especially as the pertain to stellar atmospheres. The next set of questions will provide several examples of how to use the equations in...
a. How (conceptually) is the discount rate for capital budgeting purposes defined and calculated? Is this number appropriate for analyzing the asset-replacement decision at hand? Why or why not? What...
Jaime needs a new roof on her house. The cash cost is $7500. She decides to finance the project by paying 20% down, with the balance paid in 36 monthly payments of $189.40. (a) What finance charge...
Mr. and Mrs. Chan want to buy furniture that has a cash price of $3450. On the installment plan, they must pay 25% of the cash price as a down payment and make six monthly payments of $437. (a) What...
True or false: The set of linear transformations L: R 2 R 2 such that is a subspace of L(R 2 , R 2 ). If true, what is its dimension? (6) = (8) L
Are function callback and inter-process communication same? Explain with example.
Discuss the various function of Operating System between MS-Dos, NetWare and Apple. Q2. What is Distributed System? Explain briefly how its work. Q3. Explain the various differences between MS-Dos,...
You are a member of the management team for a successful company. The CEO and CFO are considering developing a managerial accounting system which would be utilized in addition to the existing...
Consider the following items for Wolverine Properties during 2024. 1. On December 1, 2024, Wolverine received $4,000 cash from a company renting office space from Wolverine. The payment, representing...
What will balance scorecard for university operation look like when the university goal is "to increase the number of international students"? Please provide the a few example of objectives for each...
If df Between = 3, df Within = 17, F = 5.34, and = .05, write the results in APA format. (Use df Between and df Within to find F cv in order to determine if the null hypothesis was rejected.)
Data 9.2 on page 540 introduces the dataset Cereal, which includes information on the number of grams of fiber in a serving for 30 different breakfast cereals. The cereals come from three different...
A researcher completes an independent-samples t test and finds that the probability of two sample means being this far apart, if the null hypothesis is true, is less than .05. Which of the following...
An addictions researcher measured tolerance to alcohol in first-year and fourth-year college students. She gave participants a standard dose of alcohol and then had them walk along a narrow line...
A physician compared the cholesterol levels of a representative sample of Americans who ate an American diet versus a representative sample of those who followed a Mediterranean diet. Below are the...
The market price of a semi-annual pay bond is $957.95. It has 15.00 years to maturity and a coupon rate of 7.00%. Par value is $1,000. What is the yield to maturity? The market price of a semi-annual...
Compute the accumulated sum of the following payments: (a) $400 every six months for 4 years at 8% compounded semi-annually (b) $250 per month for 5 years at 7.5% compounded monthly.
The output is wrong. Sometimes a program lacking input will produce wrong output (as in this case), or no output. Remember to always pre-enter needed input. Type 2 in the input box, then click "Run...

Ilga purchased a new computer on a monthly purchase plan. The computer sold for $1495. Ilga paid

Question:

Step by Step Answer:

a Down payment 0051495 7475 Ilga financed 1495 7475 142025 Total installment price 6424 153...View the full answer

A Survey of Mathematics with Applications

Students also viewed these Mathematics questions