Jack Fitzgerald wishes to purchase a used car that has a cash price of $$13,000.$ The installment terms include a down payment of $$4,000$

and $48$ monthly payments of $$222.$

a$)$ What finance charge will Jack pay?

b$)$ What is the APR to the nearest half percent?

Annual Percentage Rate Table for Monthly Payment Plans.

$($Finance charge per $$100$ of amount financed$)$

of

Payments

The finance charge is $