Multiple Choice
Use an annual percentage rate table to solve the problem.
-A carpenter spent $6500 to purchase a table saw , a circular saw, and a panel saw. He paid 20% Down and financed the balance with a 30-month fixed installment loan with an APR of 5.0%. Determine the total finance charge and monthly payment for the loan.
A) Total finance charge = $1062.36; Monthly payment = $208.75
B) Total finance charge = $377.52; Monthly payment = $185.92
C) Total finance charge = $342.68; Monthly payment = $184.76
D) Total finance charge = $1147.90; Monthly payment = $254.93
Correct Answer:
Verified
Correct Answer:
Verified
Q54: Solve the problem. Use an annual percentage
Q55: Solve the problem. Round to the nearest
Q56: Use the ordinary annuity formula to determine
Q57: Solve the problem.<br>-Yuri used his credit card
Q58: Use a day counting table to determine
Q60: A partial payment is made on
Q61: Solve the problem<br>-A particular car gets fuel
Q62: Solve the problem. Where appropriate, round to
Q63: Write as a percent.<br>-0.078<br>A) 78%<br>B) 0.0078%<br>C) 7.8%<br>D)
Q64: Find the simple interest. (The rate is