Keenan is purchasing a new boat that sells for $56,214, including taxes and fees. He receives $17,000

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Keenan is purchasing a new boat that sells for $56,214, including taxes and fees. He receives $17,000 as a trade-in on his old boat and uses the money as a down payment. Keenan finances the balance and has monthly payments of $767.29 for 60 months.

(a) What finance charge does Keenan pay?

(b) What is the APR to the nearest half percent?

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A Survey of Mathematics with Applications

ISBN: 978-0134112107

10th edition

Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde

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Question Posted: Jan 28, 2019 07:30 AM

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Keenan is purchasing a new boat that sells for $56,214, including taxes and fees. He receives $17,000

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a Down payment 17000 Amount financed 56214 17000 39214 Total installment price 7672960 46...View the full answer

A Survey of Mathematics with Applications

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