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Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman
Edition 8ISBN: 978-1305585454Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman
Edition 8ISBN: 978-1305585454 Exercise 64
An Auntie Anne's franchise financed a $68,000 pretzel oven with a
add-on interest installment loan for 48 months. The loan required a 20% down payment.
a. What is the finance charge on the loan
b. What are the monthly payments
c. What annual percentage rate is being charged on the loan
d. If the company decides to pay off the loan after 22 months, what is the loan payoff
add-on interest installment loan for 48 months. The loan required a 20% down payment.
a. What is the finance charge on the loan
b. What are the monthly payments
c. What annual percentage rate is being charged on the loan
d. If the company decides to pay off the loan after 22 months, what is the loan payoff
Explanation
Verified
Verified
The given data is the purchase price is ...
Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman
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