LU 6-212) what is 180% of 310? Name Chapter 14 Installments PartI Vocabulary Matchup Used in calculation of average daily balance B. 1. Amount financed 2 APR 3. Average daily balance 4. Cash advance 5. Deferred payment 6. Down payment A Purchase till maximum credit reached Initial cash payment C. D. Cash price less down payment E. Times to pay off loan F. Total of all monthly payments plus down payment G. A payment process H. Sum of daily balance divided by number of 7. Finance charge 8. Amortization days in billing cycle L Used to calculate rebate of finance charge J. A revolving charge account K. Effective interest rate L. 9. Open-end credit 10. Revolving charge 11. Minimum payment 12. Truth in Lending Act Total of all payments less amount financed Part II Drill Calculate the finance charge 13. Sofa purchase price $1,600 400 12 190 13. Down payment Number of monthly payments Amount of monthly payments Calculate APR by table 14. Purchase price Down payment Number of monthly payments Amount financed Total payments $1,800 100 20 1,700 1,900 14