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You see a laptop that you have always wanted marked down to $ 1 6 0 0 . You qualify for a 3 6 -

You see a laptop that you have always wanted marked down to $1600. You qualify for a 36-
month payment plan as long as you put $250 down, which you have. The agreement is to make
36 equal payments of $46.
a) What is the finance charge?
b) Determine the approximate APR (using the table) for this loan.

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