Find the finance charges on a 7.1 percent, 18-month, single-payment loan when interest is computed using the simple interest method. Assume that the loan amount requested is $1,000. Round your answer to the nearest cent.

$

Determine the APR in this case. Round your answer to two decimal places.

____%

Find the finance charges on the same loan when interest is computed using the discount method. Round your answer to the nearest cent.

$

Determine the APR in this case. Round your answer to two decimal places.

____%

Using the simple interest method, find the monthly payments on a $3,500 installment loan if the funds are borrowed for 36 months at an annual interest rate of 9%. Use financial calculator to answer the question. Round the answer to the nearest cent. $______ per month

Assume that interest is the only finance charge. Use financial calculator to answer the questions. How much interest would be paid on a $7,000 installment loan to be repaid in 48 monthly installments of $184.38? Round the answer to 4 decimal places. _____ % per month What is the APR on this loan? Round the answer to 2 decimal places. ______ %