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Landon Wallin is an auto mechanic who wishes to start his own business. He will need $4200 to purchase tools and equipment. Landon decides to
Landon Wallin is an auto mechanic who wishes to start his own business. He will need
$4200
to purchase tools and equipment. Landon decides to finance the purchase with a
36-month
fixed installment loan with an APR of
4.5%.
a) Determine Landon's finance charge.
b) Determine Landon's monthly payment.
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Click the icon to view the partial APR table.
a) Landon's finance charge is
$nothing.
(Round to the nearest cent as needed.)
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