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Ramon Hernandez saw the following advertisement for a used Volkswagen Bug and decided to work out the numbers to be sure the ad had
Ramon Hernandez saw the following advertisement for a used Volkswagen Bug and decided to work out the numbers to be sure the ad had no errors. Cash price $7,820 Down payment $0 Annual percentage rate 15.28% Deferred price $11,284.20 or 60 payments at $188.07 per month a. Calculate the amount financed. Amount financed b. Calculate the finance charge. Note: Round your answer to the nearest cent. Finance change c. Calculate the APR by table lookup. (Use Table 14.1.) Note: Round your answers to 2 decimal places. APR: between % and %
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Finance for Non Financial Managers
Authors: Pierre Bergeron
7th edition
176530835, 978-0176530839
