Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using the APR formula. (Round dollar amounts to the nearest cent and percentages to one decimal place.) Amount Financed Number of Payments Monthly Payment Finance Charge APR $18,300 72 $424.08 $ %

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A: Purchase Price =$711 Down Payment = $711 * 10% = $71.10

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A: Finance charge per $100 of amount financed =

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Q: Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage…

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Q: Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using…

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Q: Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary…

A: Solution Rate (in %) for the loan = Interest / principal amount * 360/ days of loan

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Q: Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary…

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Q: Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage…

A: Using excel Rate function

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Q: Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary…

A: Principal Amount = p = $185,000 Time = t = 2 years Interest amount = i = $24,050

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Q: Determine the monthly payment for the installment loan. Amount Financed​ (P) =$1000 Annual…

A: We will use following formula to calculate monthly installment :   Monthly Payment = Loan Amount ×…

Q: Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using…

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