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Jack Fitzgerald wishes to purchase a used car that has a cash price of $12,000. The installment terms include a down payment of $3,000 and

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Jack Fitzgerald wishes to purchase a used car that has a cash price of $12,000. The installment terms include a down payment of $3,000 and 48 monthly payments of $224. What finance charge will Jack pay? What is the APR to the nearest half percent? The finance charge is $ The APR is Annual Percentage Rate Table for Monthly Payment Plans. (Finance charge per $100 of amount financed) Number 7.50% 8.00% 8.50% 9.00% 9.50%

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