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Quick Check Bob Drake purchased a Harley Davidson motorcycle costing $26,500. He financed the purchase at his bank with a $5000 down payment and payments
Quick Check Bob Drake purchased a Harley Davidson motorcycle costing $26,500. He financed the purchase at his bank with a $5000 down payment and payments of $693.74 for 36 months. Estimate the annual percentage rate to the nearest tenth of a percent.)4 7 B-36500-2474 64 2424 J654 Quo74.64 t500020997.69 Quick Check 3 A refrigerator costing $1450 was financed with $100 down and 20 monthly payments of $74.9 each. Find (a) the finance charge, (b) amount financed, and (c) the annual percentage rate. Quick Check A 200 day note, signed on April 7 for 48,300 has a rate of 9% compounded annually. A payment of 12,000 was made on June 25. Find (a) the balance owed on the principal after the payment on June 25 and (b) the amount due at maturity
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