Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer all of the questions. Thank you 1. 2. 3. Solve the problem. The installment price of a watch is $315.36 with 6 monthly

Please answer all of the questions. Thank you
1.
image text in transcribed
2.
image text in transcribed
image text in transcribed
3.
image text in transcribed
Solve the problem. The installment price of a watch is $315.36 with 6 monthly payments and a down payment of $45. Find the monthly payment $16.36 $45.06 O $34.64 O$270.36 Find the annual percentage rate using the table. Interest per $100 of Amount Financed Number of monthly payments 12.00% 12.2s% 12.50% 12.7596 16.00% 16.25% 16.50% 16.759. 20.00% 202S% 2050% 20.75% APR (Annual Percentage Rate) for Selected Rates 1.00 102 104 106 133 135 137 140 167 169 1.71 1.73 2 150 153 157 160 2.00 2.04 207 210 251 2s4 257 2.60 201 205 209 213 2.68 2.72 2.76 280 335 3.39 3.44 348 251 257 262 267 336 341 346 3.51 42 425 431 436 3.02 308 315 321 404 410 416 423 506 512 5.18 525 353 3.60 368 375 4.72 479 487 4 5915 606 614 4.04 4.124.21 4.29 540 5.49 558 5.66 678 6.86 6.95 704 s 455 465 4.74 44 6.09 6 6 638 764 7.74 784 794 9 5.07 517 28 53 6.7 639 700 7.11 852 863 8.73 884 558 570 582 594 748 760 7.72 7.84 9.39 951 963 9.75 6.10 623 63664818 831 844 857 1028 10411054 10.67 662 6.76 690 704 8.88 9029.16 9.30 11.16 1131 1145 1159 13 7.14 729 7.44 7.59 958 973 989 10.04 1205 12.21 1236 12.52 7.66 782 799 815 1029 1045 10.67 10.78 12.95 13.11 13.28 13.45 819 836 8.53871 11.00 1117 1135 1153 13.85 14.03 14.21 14.39 8.71 890| 908 9.27 11.71 11.90 12.09 12.2s 14.75 1494 i5. 13 15.33 17 924 944 963 9.831242 1262 1283 13.03 15.66 1586 16.07 16.27 9.77 998 10.19 10.40 1314 13 35 13.57 13.78 1657 16.79 17.01 17.22 19 10.30 1052 10.74 10.96 13361409 143114541749 17.72 17.95 1818 20 10.83 110 1130 1153 1459 1482 15.06 1530 18.4118.66 18.90 19.14 21 11.3 1161 11.85 1210 1531 1556 15.81 1606 19.34 19.60 1985 20.11 22 11.90 12.16 :1241 12.67 16.04 16.30 1657 16 2027 20st 20a 23 1244 12.711297 13.24 16.78 17.05 1732 17.60 21.212149 21.77 22.05 24 12.98 1326 13.54 13.82 1751 17.80 18.0918.37 22.15 22 44 22.74 2303 25 13.52 13.81 14.10 14.40 1825 1835 1885 1915 23.10 2340 23.71 24.02 A bicycle is purchased for $930 and financed for 12 months. If the total finance charge is $63.98, find the annual percentage rate. 12.25% 1161 11.85 12.10 1531 1556 15.81 1606 1934 1960 19.85 20.11 22 1190 1216 1241 1267 1604 1630 1657 1683 20.27 20s4 20.81 21.08 23 1244 12.71 1297 13.24 16.78 1705 1732 1760 21.21 2149 21.77 22.05 24 13.54 13.82 1751 170 18.09 18.37 22.15 2244 22.74 23.03 12.98 13.26 25 13.52 13.81 1410 1440 18251855 1885 1915 230 2340 23.71 24 A bicycle is purchased for $930 and financed for 12 months. If the total finance charge is $63.98, find the annual percentage rate. 12.25% 12.00% 12.50% 12.75% Solve the problem. Round to the nearest cent. On October 1, the unpaid balance in an account was $187. No payments were made that month. The interest rate per month was 1.75% per month of the average daily balance. Find the finance charge for the month of October. O $3.27 O $3.17 O$3.10 $3.45

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing A Risk Based Approach

Authors: Karla M Johnstone-Zehms, Audrey A. Gramling, Larry E. Rittenberg

12th Edition

035772187X, 978-0357721872

More Books

Students also viewed these Accounting questions

Question

What is the use of bootstrap program?

Answered: 1 week ago

Question

What is a process and process table?

Answered: 1 week ago

Question

What is Industrial Economics and Theory of Firm?

Answered: 1 week ago

Question

What is meant by the term industrial relations?

Answered: 1 week ago