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Question B

Find the monthly payment if financed at 2.5% add-on interest for 60 months. Answer (703.13)

Use the APR approximation formula to find the APR for part (b). (Round answer to one decimal place.)

Nov 20th, 2014

3. Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long. (Round your answers to the nearest cent.) 
$500 balance, 16%, $50 payment 

Nov 21st, 2014

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