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Those are the questions I'm stuck on try your best on it but I just need help for me to move pass these questions I've

Those are the questions I'm stuck on try your best on it but I just need help for me to move pass these questions I've been stuck on

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image text in transcribed Determine the missing amounts in the following table. lete the following problems. Andrew and Ruth Bacon would like to obtain an installment loan of $1,850 to repaint their home. They can Loan Interest Monthly Balance Amount Amount New get the loan at an APR of a) 8% for 24 months or b) 11% for 18 months. Which loan has the lower finance Purpose Rate Payment for Interest for Principal Principal charge? Stereo System $1,200 12% $106.56 $12.00 $94.56 Riding Mower 3,460 10% 207.95 Pool Cabana 7,200 9% 329.04 a. b. Lucy and Don Pflum need an installment loan of $12,900 to remodel their hair salon. City Loan will lend the money at 10% for 24 months. Economy Line Finance Company will lend the money at 9% for 30 months. Which loan costs less? How much will they save by taking the loan that costs less? Complete the repayment schedule for a $2,400 loan at 12% for 12 months. 2 Repayment Schedule for a $2,400 Loan at 12% for 12 Months Payment Monthly Amount Amount New Number Payment for Interest for Principal Principal $213.12 $24.00 $189.12 $2,210.88 213.12 22.11 191.01 2,019.87 20.20 Complete the problem. 213.12 192.92 1,826.95 1,632.10 4 213.12 18.27 194.85 213.12 16.32 196.80 1,435.30 3. Emma Jarmel obtained a $6,000 loan at 10% for home improvements. The monthly payment is $276.60. What the amount of the a) interest for the first payment, b) payment to principal, and c) new principal? 213.12 14.35 198.77 213.12 12.37 a. b . 8 213.12 a . C . 9 213.12 a . b . 10 213.12 |a. b . 213.12 a. b . Concept Check 12 b. Complete the problem. (From Example 1) 1. Use the loan information from the Garzas in Example 1 to compute the second month values for: a) The interest b) The payment to principal Determine the a) down payment, b) amount of the loan, c) monthly payment, and d) finance charge. c) The new balance 1. Jason Wagner obtains an installment loan to buy a $12,000 Honda Accord. His down payment is 25%, and the APR is 9% for 36 months. Complete the problem. (From Example 2) 2. You take out an $8,000 loan on a new motorcycle at 12% for 24 months. The monthly payment is $376.80. The balance of the loan after 15 payments is $3,222.44. What is the interest for the a) first payment and b) 16th payment? is 8% for 12 months. 2. Shelly Lemony obtains a small business equipment loan for $120,000. Her down payment is 20% and the APR Find the finance charge. Complete the following problems. 3. Patrick Woracek obtains an installment loan of $6,400 to buy a professional digital camera and lenses. The APR is 12%. The loan is to be repaid in 36 monthly payments. Don Stone obtained an $8,500 installment loan at 14% for 42 months. The loan's balance after 26 payments is $3,733.55. What is the interest for payment 27? 4. Adolfo LaRosa obtained an installment loan of $6,800 to help pay his college tuition. Student loans do not own payment. He obtained the loan from a local bank and agreed to repay the loan in 24 monthly payments at an 18% APR

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