Keenan is purchasing a new boat that sells for $56,214, including taxes and fees. He receives $17,000
Question:
Keenan is purchasing a new boat that sells for $56,214, including taxes and fees. He receives $17,000 as a trade-in on his old boat and uses the money as a down payment. Keenan finances the balance and has monthly payments of $767.29 for 60 months.
(a) What finance charge does Keenan pay?
(b) What is the APR to the nearest half percent?
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a Down payment 17000 Amount financed 56214 17000 39214 Total installment price 7672960 46...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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