Question
From this partial advertisement: $110.66 per month for 60 months $4,600 used car cash price $50 down payment a. Calculate the amount financed. Amount financed
From this partial advertisement:
$110.66 per month for 60 months
$4,600 used car cash price
$50 down payment
a. Calculate the amount financed.
Amount financed $
b. Calculate the finance charge. (Round your answer to the nearest cent.)
Finance charge $
c. Calculate the deferred payment price. (Round your answer to the nearest cent.)
Deferred payment price $
d. Calculate the APR by (Use Table 14.1 and Table 14.1(b)). (Round your answers to 2 decimal places.)
APR: between % ? and % ?
e. Check monthly payment (by formula). (Round your answer to the nearest cent.)
Monthly payment $
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