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Problem #2. Your financed a $30,500 kitchen renovation project with 4.75% add-on interest installment loan for 24 month. The loan required 15% down payment. Show

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Problem #2. Your financed a $30,500 kitchen renovation project with 4.75% add-on interest installment loan for 24 month. The loan required 15% down payment. Show your work for all parts of the problem. (a) What is the finance charge on the loan? (b) What are the monthly payments? (c) What annual percentage rate is being charged on the loan

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