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For the following loan, find (a) the finance charge and (b) the APR Use the accompanying table to find the APR to the nearest 0.5%

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For the following loan, find (a) the finance charge and (b) the APR Use the accompanying table to find the APR to the nearest 0.5% Joel financed a $1870 computer with 24 monthly payments of $85 88 each Click the icon to view the annual percentage rate table (a) The finance charge is $ 191.12 (Round to the nearest cent as needed) (b) The annual percentage rate is 1% -1 Number of Monthly Payments (n) 6 12 18 24 30 36 48 60 Annual Percentage Rate (APR) for Monthly Payment Loans Annual Percentage Rate (APR) 4.0% 4.5% 5.0% 5.5% 6.0% 6.5% 7.0% 7.5% 8.0% 8.5% 9.0% 9.5% 10.0% 10.5% 11.0% 11.5% 12,0% Finance Charge per $100 of Amount Financed (h) 1.17 1.32 1.46 161 176 1.90 205 2 20 235 249 2.64 2.79 2.94 3.08 3.23 3.38 3.53 2.18 245 2.73 3.00 3.28 3.56 3.83 4.11 439 4.66 494 522 5.50 5 78 6.06 6.34 6.62 3,20 3.60 4.00 4.41 4.82 5.22 563 604 6.45 6 86 7.69 8.10 8.52 8.93 9.35 9.77 422 4.75 5.29 583 6.37 6.91 7.45 8.00 8.55 9.09 9 64 10.19 10.75 11 30 11.86 12.42 12 98 525 592 6.59 7.29 7 94 8.61 9.30 9.98 10 68 11.35 12 04 12.74 13.43 14.13 14.83 15.54 16.24 6.29 7.09 7.90 8.71 9.52 10.34 11 16 11.99 12.81 13.64 14.48 15 32 16.16 17.01 17.86 18.71 19.57 8.38 9.46 1054 11.63 12.73 13.83 14 94 16.06 17 18 18:31 19 45 20.59 2174 22.90 24 06 25 23 26 40 10.50 11.86 13 23 14 61 16.00 1740 18.81 20.23 2166 23 1024.55 26.01 27 48 28.96 30 45 31.96 33.47 7.28 LLL

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