Calculate the amount financed, finance charge, and the amount of the monthly payments for the following add-on interest loan, rounding dollars to the nearest cent: $\begin{array}{lllllll}
\text { Purchase } & \text { Down } & \text { Amount } & \text { Add-On } & \text { Number of } & \text { Finance } & \text { Monthly } \
\text { Price } & \text { Payment } & \text { Financed } & \text { Interest } & \text { Payments } & \text { Charge } & \text { Payment } \
\$ \$ 5,000 & 15 \% & & 9.75 \% & 12 & &
\end{array}$

Question

Quizplus · Accepted Answer

The Answer of Calculate the amount financed, finance charge, and the amount of the monthly payments for the following add-on interest loan, rounding dollars to the nearest cent: $\begin{array}{lllllll}
\text { Purchase } & \text { Down } & \text { Amount } & \text { Add-On } & \text { Number of } & \text { Finance } & \text { Monthly } \
\text { Price } & \text { Payment } & \text { Financed } & \text { Interest } & \text { Payments } & \text { Charge } & \text { Payment } \
\$ \$ 5,000 & 15 \% & & 9.75 \% & 12 & &
\end{array}$

Calculate the Amount Financed, Finance Charge, and the Amount of the Monthly