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Drill Problem 14-2 (Algo) [LU 14-1 (1)] Complete the following table: Purchase price of product Down payment Schwinn Mountain Bike $ 251 $ 100 Amount
Drill Problem 14-2 (Algo) [LU 14-1 (1)] Complete the following table: Purchase price of product Down payment Schwinn Mountain Bike $ 251 $ 100 Amount financed Number of monthly Amount of monthly payments payments 12 $ 15.75 Total of monthly payments Total finance charge Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to rounding of percents in table lookup.) (Use 15.5% for table lookup.) (Use the loan amortization table.) (Round your answers to the nearest cent.) Purchase price of a used car $4, 135 Down payment $90 Number of monthly payments 60 Amount financed $4, 045 Total of monthly payments $5,884.00 Total finance charge $1,839.00 APR 15.5% Monthly Payment By table By formula Drill Problem 14-2 (Algo) [LU 14-1 (1)] Complete the following table: Purchase price of product Down payment Schwinn Mountain Bike $ 251 $ 100 Amount financed Number of monthly Amount of monthly payments payments 12 $ 15.75 Total of monthly payments Total finance charge Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to rounding of percents in table lookup.) (Use 15.5% for table lookup.) (Use the loan amortization table.) (Round your answers to the nearest cent.) Purchase price of a used car $4, 135 Down payment $90 Number of monthly payments 60 Amount financed $4, 045 Total of monthly payments $5,884.00 Total finance charge $1,839.00 APR 15.5% Monthly Payment By table By formula
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