(FIND AMOUNT FINANCED AND TOTAL FINANCE CHARGE)

1.

Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by table lookup. (Use Table14.1 and Table14.1(b)) (Do not round intermediate calculations. Round the "Finance charge" to the nearest cent.)

Purchase price of a used car	Down payment	Number of monthly payments	Amount financed	Total of monthly payments	Total finance charge	APR
$5,733	$1,253	48	$	$5,789.76	$

2.

Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by table lookup. (Use Table14.1and Table14.1(b))

Purchase price of a used car	Down payment	Number of monthly payments	Amount financed	Total of monthly payments	Total finance charge	APR
$4,035	$95	60	$	$5,784	$

3.

Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to rounding of percents in table lookup.). (Use 13% for table lookup.). (Use the loan amortization table) (Round your answers to the nearest cent.)

Purchase price of a used car	Down payment	Number of monthly payments	Amount financed	Total of monthly payments	Total finance charge	APR
$5,473	$1,123	48	$4,350	$5,529.76	$1,179.76	13%

	Monthly Payment
By table	$
By formula	$