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For each statement find the finance charge, total deferred payment price, and annual percentage rate (APR). -Customer#1 looked at an item with a cash purchase
For each statement find the finance charge, total deferred payment price, and annual percentage rate (APR). -Customer#1 looked at an item with a cash purchase price of $50,000. Customer#1 qualified for an installment loan. The customer puts down 25% of the cash purchase price as a down payment and finances the balance at $750 a month for 60 months. -Customer#2 looked at an item with a cash purchase price of $5,000. Customer#2 qualified for an installment loan. The customer puts down 20% of the cash purchase price as a down payment and finances the balance at $250 a month for 24 months -Customer#3 looked at an item with a cash purchase price of $600. Customer#3 qualified for an installment loan. The customer puts S100 down of the S650 cash purchase price and finances the balance at $55 a month for 12 months. -Customer#4 looked at an item with a cash purchase price of $6,000. Customer#4 qualified for an installment loan. The customer puts down S1,200 of the S6,000 cash purchase price and finances the balance at $200 a month for 36 months
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