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Chuck Boyl saw the following advertisement for a used Volkswagen Bug and decided to work out the numbers to be sure no errors. Cash price
Chuck Boyl saw the following advertisement for a used Volkswagen Bug and decided to work out the numbers to be sure no errors. Cash price $8,010 Down payment $0 Annual percentage rate 16.03% Deferred price $11,688.00 or 60 payments at $194.80 per month a. Calculate the amount financed Amount financed b. Calculate the finance charge. (Do not round intermediate calculations. Round your answer to the nearest cent.) Finance charge c. Calculate the APR by formula. (Do not round intermediate calculations. Enter your answer as a percentage rounded to place.) APR by formula c. Calculate the APR by formula. (Do not round intermediate calculations. Enter your answer as a percentage rounded to 1 decimal place.) APR by formula d. Calculate the monthly payment by formula (Do not round Intermediate calculations. Round your answer to the nearest cent.) Monthly payment by formula
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