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Question Completion Status: QUESTION 4 A flower shop owner wants to pay off the loan on a used delivery van that was purchased 11
Question Completion Status: QUESTION 4 A flower shop owner wants to pay off the loan on a used delivery van that was purchased 11 months ago. The 2-year installment plan used to purchase the van included a $280 finance charge and called for payments of $230 monthly. What amount is needed to pay off the loan? OA. $2931.49 B. $2832.64 OC. $2988.45 OD. $2905.07 QUESTION 5 You take out a consumer loan at your credit union for new insulated windows for your house. The total installed cost is $9,500 of which you pay 14% down. The balance is to be paid in 54 equal monthly payments with a finance charge equal to 7.2% add-on interest on the outstanding balance. Find the finance charge. OA. $2674.41 OB. $2690.24 OC. $2647.08 OD. $2590.36
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