Complete the following table: Purchase price of product LandcruiserDown paymentAmount financedNumber of monthly paymentsAmount of monthly paymentsTotal of monthly paymentsTotal finance charge$70,900$49,500 $72$488

Amount financed is calculated as Amount financed = Purchase price of product - Down payment =…

Answered: Complete the following table:…

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

Section: Chapter Questions

Problem 1PS

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Complete the following table:

Purchase price of product Landcruiser	Down payment	Amount financed	Number of monthly payments	Amount of monthly payments	Total of monthly payments	Total finance charge
$70,900	$49,500		$72	$488

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Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by table lookup.(Use Table 14.1.)

Note: Do not round intermediate calculations. Round the Finance charge to the nearest cent.

Purchase price of a used car	Down payment	Number of monthly payments	Amount financed	Total of monthly payments	Total finance charge	APR
$5,593	$1,183	48		$5,649.76

ANNUAL PERCENTAGE RATE
NUMBER OF PAYMENTS	10.00%	10.251%	10.50%	10.75%	11.00%	11.25%	11.50%	11.75%	12.00%	12.25%	12.50%	12.75%	13.00%	13.25%	13.50	13.75%
(FINANCE CHARGE PER $100 OF AMOUNT FINANCED)
1	0.83	0.85	0.87	0.90	0.92	0.94	0.96	0.98	1.00	1.02	1.04	1.06	1.08	1.10	1.12	1.15
2	1.25	1.28	1.31	1.35	1.38	1.41	1.44	1.47	1.50	1.53	1.57	1.60	1.63	1.66	1.69	1.72
3	1.67	1.71	1.76	1.80	1.84	1.88	1.92	1.96	2.01	2.05	2.09	2.13	2.17	2.22	2.26	2.30
4	2.09	2.14	2.20	2.25	2.30	2.35	2.41	2.46	2.51	2.57	2.62	2.67	2.72	2.78	2.83	2.88
5	2.51	2.58	2.64	2.70	2.77	2.83	2.89	2.96	3.02	3.08	3.15	3.21	3.27	3.34	3.40	3.46
6	2.94	3.01	3.08	3.16	3.23	3.31	3.39	3.45	3.53	3.60	3.68	3.75	3.83	3.90	3.97	4.05
7	3.36	3.45	3.53	3.62	3.70	3.78	3.87	3.95	4.04	4.12	4.21	4.29	4.38	4.47	4.55	4.64
8	3.79	3.88	3.98	4.07	4.17	4.26	4.36	4.46	4.55	4.65	4.74	4.84	4.94	5.03	5.13	5.22
9	4.21	4.32	4.43	4.53	4.64	4.75	4.85	4.96	5.07	5.17	5.28	5.39	5.49	5.60	5.71	5.82
10	4.64	4.76	4.88	4.99	5.11	5.23	5.35	5.46	5.58	5.70	5.82	5.94	6.05	6.17	6.29	6.41
11	5.07	5.20	5.33	5.45	5.58	5.71	5.84	5.97	6.10	6.23	6.36	6.49	6.62	6.15	6.88	7.01
12	5.50	5.64	5.78	5.92	6.06	6.20	6.34	6.48	6.62	6.76	6.90	7.04	7.18	7.32	7.46	7.60
13	5.93	6.08	6.23	6.38	6.53	6.68	6.84	6.99	7.14	7.29	7.44	7.59	7.75	1.90	8.05	8.20
14	6.36	6.52	6.69	6.85	7.01	7.17	7.34	7.50	7.66	7.82	7.99	8.15	8.31	8.48	8.64	8.81
15	6.80	6.97	7.14	7.32	7.49	7.66	7.84	8.01	8.19	8.36	8.53	8.11	8.88	9.06	9.23	9.41
16	7.23	7.41	7.60	7.78	7.97	8.15	8.34	8.53	8.71	8.90	9.08	9.27	9.46	9.64	9.83	10.02
17	7.67	7.86	8.06	8.25	8.45	8.65	8.84	9.04	9.24	9.44	9.63	9.83	10.03	10.23	10.43	10.63
18	8.10	8.31	8.52	8.73	8.93	9.14	9.35	9.56	9.77	9.98	10.19	10.40	10.61	10.82	11.03	11.24
19	8.54	8.76	8.98	9.20	9.42	9.64	9.86	10.08	10.30	10.52	10.74	10.96	11.18	11.41	11.63	11.85
20	8.98	9.21	9.44	9.67	9.90	10.13	10.37	10.60	10.83	11.06	11.30	11.53	11.76	12.00	12.23	12.46
21	9.42	9.66	9.90	10.15	10.39	10.63	10.88	11.12	11.36	11.61	11.85	12.10	12.34	12.59	12.84	13.08
22	9.86	10.12	10.37	10.62	10.88	11.13	11.39	11.64	11.90	12.16	12.41	12.67	12.93	13.19	13.44	13.10
23	10.30	10.57	10.84	11.10	11.37	11.63	11.90	12.17	12.44	12.71	12.97	13.24	13.51	13.78	14.05	14.32
24	10.75	11.02	11.30	11.58	11.86	12.14	12.42	12.70	12.98	13.26	13.54	13.82	14.10	14.38	14.66	14.95
25	11.19	11.48	11.77	12.06	12.35	12.64	12.93	13.22	13.52	13.81	14.10	14.40	14.69	14.98	15.28	15.57
26	11.64	11.94	12.24	12.54	12.85	13.15	13.45	13.75	14.06	14.36	14.67	14.97	15.28	15.59	15.89	16.20
27	12.09	12.40	12.71	13.03	13.34	13.66	13.97	14.29	14.60	14.92	15.24	15.56	15.87	16.19	16.51	16.83
28	12.53	12.86	13.18	13.51	13.84	14.16	14.49	14.87	15.15	15.48	15.81	16.14	16.47	16.80	17.13	17.46
29	12.98	13.32	13.66	14.00	14.33	14.67	15.01	15.35	15.70	16.04	16.38	16.72	17.07	17.41	17.75	18.10
30	13.43	13.78	14.13	14.48	14.83	15.19	15.54	15.89	16.24	16.60	16.95	17.31	17.66	18.02	18.38	18.74
31	13.89	14.25	14.61	14.97	15.33	15.10	16.06	16.43	16.79	17.16	17.53	17.90	18.27	18.63	19.00	19.38
32	14.34	14.71	15.09	15.46	15.84	16.21	16.59	16.97	17.35	17.73	18.11	18.49	18.87	19.25	19.63	20.02
33	14.79	15.18	15.57	15.95	16.34	16.73	17.12	17.51	17.90	18.29	18.65	19.08	19.47	19.87	20.26	20.66
34	15.25	15.65	16.05	16.44	16.85	17.25	17.65	18.05	18.46	18.86	19.27	19.67	20.08	20.49	20.90	21.31
35	15.70	16.11	16.53	16.94	17.35	17.77	18.18	18.60	19.01	19.43	19.85	20.27	20.69	21.11	21.53	21.95
36	16.16	16.58	17.01	17.43	17.86	18.29	18.71	19.14	19.57	20.00	20.43	20.87	21.30	21.73	72.17	22.60
37	16.62	17.06	17.49	17.93	18.37	18.81	19.25	19.69	20.13	20.58	21.02	21.46	21.91	22.36	22.81	23.25
38	17.08	11.53	17.98	18.43	18.88	19.33	19.78	20.24	20.69	21.15	21.61	22.07	22.52	22.99	23.45	23.91
39	17.54	18.00	18.46	18.93	19.39	19.86	20.32	20.79	21.26	21.73	22.20	22.67	23.14	23.61	24.09	24.56
40	18.00	18.48	18.95	19.43	19.90	20.38	20.86	21.34	21.82	22.30	22.79	23.27	23.76	24.25	74.73	25.22
41	18.47	18.95	19.44	19.93	20.42	20.91	21.40	21.89	22.39	22.88	23.38	23.88	24.38	24.88	25.38	25.88
42	18.93	19.43	19.93	20.43	20.93	21.44	21.94	22.45	22.96	23.47	23.98	24.49	25.00	25.51	26.03	26.55
43	19.40	19.91	20.42	20.94	21.45	21.97	22.49	23.01	23.53	24.05	24.51	25.10	25.62	26.15	26.68	27.21
44	19.86	20.39	20.91	21.44	21.97	22.50	23.03	23.57	24.10	24.64	25.17	25.71	26.25	26.79	27.33	27.88
45	20.33	20.87	21.41	21.95	22.49	23.03	23.58	24.12	24.61	25.22	25.77	26.32	26.88	27.43	27.99	28.55
46	20.80	21.35	21.90	22.46	23.01	23.57	24.13	24.69	25.25	25.81	26.37	26.94	27.51	28.08	28.65	29.22
47	21.27	21.83	22.40	22.97	23.53	24.10	24.68	25.25	25.82	26.40	26.98	27.56	28.14	28.72	29.31	29.89
48	21.74	22.32	22.90	23.48	24.06	24.64	25.23	25.81	26.40	26.99	27.58	28.18	28.77	29.37	29.97	30.51
49	22.21	22.80	23.39	23.99	24.58	25.18	25.78	26.38	26.98	27.59	28.19	28.80	29.41	30.02	30.63	31.24
50	22.69	23.29	23.89	24.50	25.11	25.72	26.33	26.95	27.56	28.18	28.80	29.42	30.04	30.67	31.29	31.92

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Complete the following table: Purchase price of product Landcruiser Down payment Amount financed Number of monthly payments Amount of monthly payments Total of monthly payments Total finance charge $70,900 $49,500 $72 $488