Figure 8.1. Use
this table with
the
question(s)
below as
needed
MONTH...
Mathematics, 04.03.2021 23:00 KeyesRaveen
Figure 8.1. Use
this table with
the
question(s)
below as
needed
MONTHLY PAYMENT ON A $100 LOAN
Termin
Annual Percentage Rate
Months 8.00% 10.00% 12.00%
6
17.06 17.16 1725 by
12
8.70
8.79
8.88
18
5.91 6.01
6.10
24
4.52
4.61
4.71
30
3.69 3.78
3.87
36
3.13
3.23 3.32
42
2.74 283 2.93
48
2.44
254
2.63
14.00%
17.35
8.98
6.19
4.80
3.97
3.42
3.03
2.73
Use Figure 8.1. Henry Reed obtained an installment loan of $2,000. The annual
percentage rate is 12 percent. He must repay the loan in 48 months. What is the
finance charge?
Answers: 1
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