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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 90
Solve the following application problems and use the table to find the annual percentage rate.
AUTO PURCHASE Pat Waller bought a Toyota Corolla for $20,800 including taxes and license. She made a down payment of $2000 and agreed to make 50 payments to Citibank of $472 each. Find (a) the amount financed, _________ (b) the total installment cost, _________ (c) the total interest paid, _________ and (d) the APR. _________
AUTO PURCHASE Pat Waller bought a Toyota Corolla for $20,800 including taxes and license. She made a down payment of $2000 and agreed to make 50 payments to Citibank of $472 each. Find (a) the amount financed, _________ (b) the total installment cost, _________ (c) the total interest paid, _________ and (d) the APR. _________
Explanation
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Recall the formula for finding the Amou...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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