Answers for 1&2

Unit 14.1 Cost of installment buying 1. Mindie Hunsaker is thinking about buying a car and getting a 3-year loan from her bank in the amount of $7,200. Her monthly payment will be $200($7,20036=$200). ( $ or F) 2. Suppose you get a 7.75% installment loan and are charged a $100 frontend processing fee. Your APR will be (a) 7.75%, (b) less than 7.75%, or (c) greater than 7.75%