Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by formula. (Do not round intermediate calculations. Round the "Finance charge" to the nearest cent and "APR" to the nearest tenth percent.) Purchase price of a used car 5,793 APR Number of monthly payments Down payment $ 1,283 Amount Total of monthly Total finance financed payments charge $ 4,510 $ 5,849.76 $ 1,339.76 48 0.5% Pat Radigan is planning to buy a Toyota hybrid for $18,869 with $1,700 down and plans to finance the car. Citizens' Financial Bank quoted a finance charge at 8% for 48 months; Charter One Bank quoted him a finance charge at 7.5% for 60 months. a. What would be his monthly payment to Citizens' Financial Bank? (Do not round intermediate calculations. Round your answer to the nearest cent.) Monthly payment $ 419.15 b. What would be his monthly payment to Charter One Bank? (Do not round intermediate calculations. Round your answer to the nearest cent.) Monthly payment $ 344.03 c. How much more would his monthly payment be on the 48-month loan? (Do not round intermediate calculations. Round your answer to the nearest cent.) More in monthly payment $ 75.12 Calculate the monthly payment from the following information by formula. (Do not round intermediate calculations. Round your answer to the nearest cent.) APR PMT Number of monthly payments 60 Amount financed 4,185 $ 15.5 % $ 100.66 Calculate (a) the amount financed, (b) the total finance charge, and (c) APR by formula. (Do not round intermediate calculations. Round the "Finance charge" to the nearest cent and "APR" to the nearest tenth percent.) Purchase price of a used car 5,793 APR Number of monthly payments Down payment $ 1,283 Amount Total of monthly Total finance financed payments charge $ 4,510 $ 5,849.76 $ 1,339.76 48 0.5% Pat Radigan is planning to buy a Toyota hybrid for $18,869 with $1,700 down and plans to finance the car. Citizens' Financial Bank quoted a finance charge at 8% for 48 months; Charter One Bank quoted him a finance charge at 7.5% for 60 months. a. What would be his monthly payment to Citizens' Financial Bank? (Do not round intermediate calculations. Round your answer to the nearest cent.) Monthly payment $ 419.15 b. What would be his monthly payment to Charter One Bank? (Do not round intermediate calculations. Round your answer to the nearest cent.) Monthly payment $ 344.03 c. How much more would his monthly payment be on the 48-month loan? (Do not round intermediate calculations. Round your answer to the nearest cent.) More in monthly payment $ 75.12 Calculate the monthly payment from the following information by formula. (Do not round intermediate calculations. Round your answer to the nearest cent.) APR PMT Number of monthly payments 60 Amount financed 4,185 $ 15.5 % $ 100.66
