ane Zahrley’s request for a five-year automobile loan for $39,000 has been approved. Reston Bank will require equal monthly installment payments for 60 months. The bank tells Jane that she must pay a total of $5,500 in finance charges. What is the loan’s APR?

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A: Hi There, thanks for posting the question. But as per Q&A guidelines, we must answer the first…

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A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

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A: A loan refers to a contract where a borrower receives money from a lender on the promise of future…

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A: Loan amount (PV) = 75,000 Annual interest rate (r) = 14% Number of annual payment (n) = 30

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A: Here, Borrowed Amount $                           500,000.00Annual Effective Interest…

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Q: What is the cost of two points on the mortgage?

A: Information Provided: Selling Price = $125,000 Downpayment = 20% or $25,000 Loan amount = $100,000…

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A: "Hi there, thanks for posting the questions. But as per our Q&A guidelines, we must answer the…

Q: the amount financed the finance charge The deferred payment price.

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Q: Anny takes out an installment loan to finance the purchase of a pickup truck costing $14,700. Her…

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A: Adjustment Journal Entry for Interest Payment An expense for the firm that occurs during a fiscal…

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A: Here, Borrowed Amount is $7,000 Corrowed Date is 20th July Fixed Monthly Payment is $1,400 Floating…

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A:

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A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: The Flemings secured a bank loan of $328,000 to help finance the purchase of a house. The bank…

A: Ordinary annuities are the PMTs which are made at the end of the period.

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Calculating the Return On A Loan