Brenda is a beautician who is opening her own salon in her home. She needs $8500 to
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Brenda is a beautician who is opening her own salon in her home. She needs $8500 to purchase furniture and equipment. Brenda makes a 10% down payment and finances the balance with a 48-month fixed installment loan with an APR of 4%.
(a) Determine Brenda’s finance charge.
(b) Determine Brenda’s monthly payment.
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a From Table 102 the finance charge per 100 at 4 for 48 payments is 838 Table 10...View the full answer
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Related Book For
A Survey of Mathematics with Applications
ISBN: 978-0134112107
10th edition
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
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