A) Calculate amount financed:

B) Calculate the finance charge:

C) Calculate the APR by formula:

D) Calculate the monthly payment by add-on-method.

E) Calculate the monthly payment by formula. (Do not round intermediate calculations. Round your answer to the nearest cent.)

Chuck Boyl saw the following advertisement for a used Volkswagen Bug and decided to work out the numbers to be sure the ad had no errors. Cash price $7,780 Down payment $0 Annual percentage rate 12.78% Deferred price $10,620.00 or 60 payments at $177.00 per month Chuck Boyl saw the following advertisement for a used Volkswagen Bug and decided to work out the numbers to be sure the ad had no errors. Cash price $7,780 Down payment $0 Annual percentage rate 12.78% Deferred price $10,620.00 or 60 payments at $177.00 per month