A new pair of Bose speakers for your home theater system costs $720. If you take out an add-on interest loan for 2 years at an annual simple interest rate of 18%, what will be your monthly payments? 1. Suppose that you begin the month of September with a credit card balance of $240. Assume that your card has an annual interest rate of 18% and that during September the following transactions are made on your account. 2. September 11: A payment of $60 is credited to your account September 18: You charge $14 for iTunes downloads September 23: You charge $32 for gasoline Use the unpaid balance method to compute the beginning balance for October and the finance charge. You have graduated from college! But you have $8000 in student loans with an APR of 6.45%. The loan provider is offering to let you pay the loans back over ten years with monthly payments. What will be your payment amount? 3