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Ida purchases new a new car and still owes $8,400. She agrees to pay $202.50 each month for the next 48 months. What is the APR on her loan? Review APR here. APRtable.jpg Table 5 Annual Percentage Rate (APR) for Monthly Payment Loans Number of Monthly 6.0% 6.5% 7.0 % 7.5 % 8.0% 8.5 % 9.0 % 9.5% Payments (1) 6 12 18 24 30 36 Annual Percentage Rate (APR) 10.0 % 10.5% 11.0 % 11.5% 12.0% 12.5% 13.0 % 13.5% 14.0% Finance Charge per $100 of Amount Financed (h) $1.76 $1.90 $2.05 $2.20 $2.35 $2.49 $2.64 $2.79 $2.94 $3.08 $3.23 $3.38 $3.53 $3.68 $3.83 $3.97 $4.12 3.28 3.56 3.83 4.11 4.39 4.66 4.94 5.22 5.50 5.78 6.06 6.34 6.62 6.90 7.18 7.46 7.74 4.82 5.22 5.63 6.04 6.45 6.86 7,28 7.69 8.10 8.52 8.93 9.35 9.77 10.19 10.61 11.03 11.45 6.37 6.91 7.45 8.00 8.55 9.09 9.64 10.19 10.75 11.30 11.86 12.42 12.98 13.54 14.10 14.66 15.23 7.94 8.61 9.30 9.98 10.66 11.35 12.04 12.74 13.43 14.13 14.83 15.54 16.24 16.95 17.66 18.38 19.10. 9.52 10.34 11.16 11.98 12.81 13.64 14.48 15.32 16.16 17.01 17.86 18.71 19.57 20.43 21.30 22.17 23.04 12.73 13.83 14.94 16.06 17.18 18.31 19.45 20.59 21.74 22.90 24.06 25.23 16.00 17.40 18.81 20.23 21.66 23.10 24.55 26.01 27.48 28.96 30.45 31.96 26.40 27.58 28.77 29.97 31.17 33.47 34.99 36.52 38.06 39.61 48 60

Ida purchases new a new car and still owes $8,400. She agrees to pay $202.50 each month for the next 48 months. What is the APR on her loan? Review APR here. APRtable.jpg Table 5 Annual Percentage Rate (APR) for Monthly Payment Loans Number of Monthly 6.0% 6.5% 7.0 % 7.5 % 8.0% 8.5 % 9.0 % 9.5% Payments (1) 6 12 18 24 30 36 Annual Percentage Rate (APR) 10.0 % 10.5% 11.0 % 11.5% 12.0% 12.5% 13.0 % 13.5% 14.0% Finance Charge per $100 of Amount Financed (h) $1.76 $1.90 $2.05 $2.20 $2.35 $2.49 $2.64 $2.79 $2.94 $3.08 $3.23 $3.38 $3.53 $3.68 $3.83 $3.97 $4.12 3.28 3.56 3.83 4.11 4.39 4.66 4.94 5.22 5.50 5.78 6.06 6.34 6.62 6.90 7.18 7.46 7.74 4.82 5.22 5.63 6.04 6.45 6.86 7,28 7.69 8.10 8.52 8.93 9.35 9.77 10.19 10.61 11.03 11.45 6.37 6.91 7.45 8.00 8.55 9.09 9.64 10.19 10.75 11.30 11.86 12.42 12.98 13.54 14.10 14.66 15.23 7.94 8.61 9.30 9.98 10.66 11.35 12.04 12.74 13.43 14.13 14.83 15.54 16.24 16.95 17.66 18.38 19.10. 9.52 10.34 11.16 11.98 12.81 13.64 14.48 15.32 16.16 17.01 17.86 18.71 19.57 20.43 21.30 22.17 23.04 12.73 13.83 14.94 16.06 17.18 18.31 19.45 20.59 21.74 22.90 24.06 25.23 16.00 17.40 18.81 20.23 21.66 23.10 24.55 26.01 27.48 28.96 30.45 31.96 26.40 27.58 28.77 29.97 31.17 33.47 34.99 36.52 38.06 39.61 48 60

College Algebra
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 16E: Mortgage What is the monthly payment on a 30-year mortgage of $80,000 at 9% interest? What is the...
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Ida purchases new a new car and still owes $8,400. She agrees to pay $202.50 each month for the next 48 months. What is the APR on her loan? Review APR here. APRtable.jpg Table 5 Annual Percentage Rate (APR) for Monthly Payment Loans Number of Monthly Payments (m) 6 12 18 24 30 36 48 60 8% 15.7% 7.5% 15% Annual Percentage Rate (APR) 6.0% 6.5% 7.0% 7.5% 8.0 % 8.5% 9.0 % 9.5 % 10.0 % 10.5% 11.0 % 11.5% 12.0% 12.5 % 13.0 % 13.5% 14.0% Finance Charge per $100 of Amount Financed (h) $2.94 $3.08 $3.23 $3.38 $3.53 $3.68 $3.83 $3.97 $4.12 5.50 5.78 6.06 6.34 6.62 6.90 7.18 7.46 7.74 8.93 9.35 9.77 10.19 10.61 11.03 11.45 11.86 12.42 12.98 13.54 14.10 14.66 15.23 $1.76 $1.90 $2.05 $2.20 $2.35 $2.49 $2.64 $2.79 3.28 3.56 3.83 4.11 4.39 4.66 4.94 5.22 4.82 5.22 5.63 6.04 6.45 6.86 7.28 7.69 8.10 8.52 6.37 6.91 7.45 8.00 8.55 9.09 9.64 10.19 10.75 11.30 7.94 8.61 9.30 9.98 10.66 11.35 12.04 12.74 13.43 14.13 14.83 15.54 16.24 16.95 17.66 18.38 19.10. 9.52 10.34 11.16 11.98 12.81 13.64 14.48 15.32 16.16 17.01 17.86 18.71 19.57 20.43 21.30 22.17 23.04 12.73 13.83 14.94 16.06 17.18 18.31 19.45 20.59 21.74 22.90 24.06 25.23 26.40 27.58 28.77 29.97 31.17 16.00 17.40 18.81 20.23 21.66 23.10 24.55 26.01 27.48 28.96 30.45 31.96 33.47 34.99 36.52 38.06 39.61
Transcribed Image Text:Ida purchases new a new car and still owes $8,400. She agrees to pay $202.50 each month for the next 48 months. What is the APR on her loan? Review APR here. APRtable.jpg Table 5 Annual Percentage Rate (APR) for Monthly Payment Loans Number of Monthly Payments (m) 6 12 18 24 30 36 48 60 8% 15.7% 7.5% 15% Annual Percentage Rate (APR) 6.0% 6.5% 7.0% 7.5% 8.0 % 8.5% 9.0 % 9.5 % 10.0 % 10.5% 11.0 % 11.5% 12.0% 12.5 % 13.0 % 13.5% 14.0% Finance Charge per $100 of Amount Financed (h) $2.94 $3.08 $3.23 $3.38 $3.53 $3.68 $3.83 $3.97 $4.12 5.50 5.78 6.06 6.34 6.62 6.90 7.18 7.46 7.74 8.93 9.35 9.77 10.19 10.61 11.03 11.45 11.86 12.42 12.98 13.54 14.10 14.66 15.23 $1.76 $1.90 $2.05 $2.20 $2.35 $2.49 $2.64 $2.79 3.28 3.56 3.83 4.11 4.39 4.66 4.94 5.22 4.82 5.22 5.63 6.04 6.45 6.86 7.28 7.69 8.10 8.52 6.37 6.91 7.45 8.00 8.55 9.09 9.64 10.19 10.75 11.30 7.94 8.61 9.30 9.98 10.66 11.35 12.04 12.74 13.43 14.13 14.83 15.54 16.24 16.95 17.66 18.38 19.10. 9.52 10.34 11.16 11.98 12.81 13.64 14.48 15.32 16.16 17.01 17.86 18.71 19.57 20.43 21.30 22.17 23.04 12.73 13.83 14.94 16.06 17.18 18.31 19.45 20.59 21.74 22.90 24.06 25.23 26.40 27.58 28.77 29.97 31.17 16.00 17.40 18.81 20.23 21.66 23.10 24.55 26.01 27.48 28.96 30.45 31.96 33.47 34.99 36.52 38.06 39.61
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