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Landon Wallin is an auto mechanic who wishes to start his own business. He will need $4900 to purchase tools and equipment. Landon decides to
Landon Wallin is an auto mechanic who wishes to start his own business. He will need $4900 to purchase tools and equipment. Landon decides to finance the purchase with a 36-month fixed installment loan with an APR of 6%. a) Determine Landon's finance charge. b) Determine Landon's monthly payment. Click the icon to view the partial APR table. a) Landon's finance charge is $. (Round to the nearest cent as needed.)Vallin is an auto mechanic who wishes to start his own business. He will need $4900 to purchase tools and equipment. Landon decides to finan t loan with an APR of 6%. nine Landon's finance charge. nine Landon's monthly payment. k the icon to view the partial APR table. . .. n's finance charge is $. o the nearest cent as needed.) Partial APR Table - X Number of Annual Percentage Rate payments 4.5% 5.0% 5.5% 6.0% 6.5% Finance charge per $100 of amount financed) 36 7.09 7.90 8.71 9.52 10.34 48 9.46 10.54 11.63 12.73 13.83 60 11.86 13.23 14.61 16.00 17.40 Print Done
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