Mr. and Mrs. Chan want to buy furniture that has a cash price of $3450. On the
Question:
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 finance charge will the Chans pay?
(b) What is the APR to the nearest half percent?
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Down payment 0253450 86250 Amount financed 3450 86250 258750 a Installment price 6437 2622 ...View the full answer
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Related Book For 
A Survey of Mathematics with Applications
ISBN: 978-0134112107
10th edition
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
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