Monthly Payment & Finance Charge Ex. 2

Harry obtained a $4,500 installment loan at an APR of 8%. He must repay the loan in 36 months. Find the monthly payment. (Answers will vary based on how many numbers past the decimal you use. If you are within a couple dollars that is good.)

Harry obtained a $4,500 installment loan at an APR of 8%. He must repay the loan in 36 months. Find the total amount repaid. (Answers will vary based on how many numbers past the decimal you use. If you are within a couple dollars that is good.)

Harry obtained a $4,500 installment loan at an APR of 8%. He must repay the loan in 36 months. Find the finance charge. (Answers will vary based on how many numbers past the decimal you use. If you are within a couple dollars that is good.)

Lisa purchased her new $45,000 automobile with a $5,000 down payment and financed the rest with an installment loan for 72 months at an annual percentage rate of 6%. Find Lisa's monthly payment. (Answers will vary based on how many numbers past the decimal you use. If you are within a couple dollars that is good.)

Lisa purchased her new $45,000 automobile with a $5,000 down payment and financed the rest with an installment loan for 72 months at an annual percentage rate of 6%. Find Lisa's total amount repaid. (Answers will vary based on how many numbers past the decimal you use. If you are within a couple dollars that is good.)

Lisa purchased her new $45,000 automobile with a $5,000 down payment and financed the rest with an installment loan for 72 months at an annual percentage rate of 6%. Find Lisa's finance charge. (Answers will vary based on how many numbers past the decimal you use. If you are within a couple dollars that is good.)