Jamie needs a new roof on her house. The cash cost is $3400. She decides to finance the project by paying 6.0% down, with the balance paid in 6 monthly payments of $540. a) What finance charge will Jamie pay? b) What is the APR to the nearest half percent? Click the icon to view the APR table. APR Table - X a) The finance charge is $ b) The APR is %. Annual Percentage Rate Table for Monthly Payment Plans Annual Percentage Rate Number of 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% payments (Finance charge per $100 of amount financed) 6 1.17 1.32 1.46 1.61 1.76 1.90 2.05 2.20 2.35 2.49 2.64 2.79 2.93 12 2.18 2.45 2.73 3.00 3.28 3.56 3.83 4.11 4.39 4.66 4.94 5.22 5.50 18 3.20 3.60 4.00 4.41 4.82 5.22 5.63 6.04 6.45 6.86 7.28 7.69 8.10 24 4.22 4.75 5.29 5.83 6.37 6.91 7.45 8.00 8.54 9.09 9.64 10.19 10.75 30 5.25 5.92 6.59 7.26 7.94 8.61 9.30 9.98 10.66 11.35 12.04 12.74 13.43 36 6.29 7.09 7.90 8.71 9.52 10.34 11.16 11.98 12.81 1 13.64 14.48 15.32 16.16 48 8.38 9.46 10.54 11.63 12.73 13.83 14.94 16.06 17.18 18.31 19.45 20.59 21.74 60 10.50 11.86 13.23 14.61 16.00 17.40 18.81 20.23 21.66 23.10 24.55 26.01 27.48 Print Done