Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by table lookup. (Use Table 14.1 and Table 14.1(b).) (Do not round intermediate calculations. Round the "Finance charge" to the nearest cent.) Purchase price of a used car $ 5,713 Down payment $ 1,243 Number of monthly payments 48 Amount financed Total of monthly payments $ 5,769.76 Total finance charge APR

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by table lookup. (Use Table 14.1 and Table 14.1(b).) (Do not
round intermediate calculations. Round the "Finance charge" to the nearest cent.)
Purchase price of a
used car
$
Down payment
1,243
5,713 $
Number of monthly
payments
48
Amount
financed
Total of monthly
payments
$
5,769.76
Total finance
charge
APR
Transcribed Image Text:Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by table lookup. (Use Table 14.1 and Table 14.1(b).) (Do not round intermediate calculations. Round the "Finance charge" to the nearest cent.) Purchase price of a used car $ Down payment 1,243 5,713 $ Number of monthly payments 48 Amount financed Total of monthly payments $ 5,769.76 Total finance charge APR
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