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# Question

Find the amount of interest and the monthly payment for the loan. Purchase a living room set for $3,700 at 12% add-on interest for 3 years. (Round your monthly paymentto the nearest cent.)$ interest

$per month If the principal P =$400, the interest I = $200, and the rate r = 10%, find the following. (a) What is the time? years (b) What is the future value? A car dealer carries out the following calculations. What is the annual percentage rate? (Round your answer to the nearest tenth.) List price$ 5,368.00
Options $1,625.00 Destination charges$ 200.00
Subtotal $7,193.00 Tax$ 431.58
Less trade-in $2,932.00 Amount to be financed$ 4,692.58
8% interest for 48 months $1,501.63 MONTHLY PAYMENT$ 129.05
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4.A car dealer will sell you the $16,450 car of your dreams for$3,240 down and payments of $339.98 per month for 48 months. What is the total amount paid for both carand financing? (Round your answer to the nearest cent.)$

5.Calculate the monthly finance charge for the following credit card transaction. Assume that it takes 10 days for a payment to be received and recorded and that themonth is 30 days long. (Round your answer to the nearest cent.)
$500 balance, 20% rate,$50 payment, average daily balance method
$6.Suppose you have a$1,000 charge on a credit card charging 1.5% monthly interest using the adjusted balance method. The minimum payment due in May is $30. How muchwill you save in interest charges in June by paying$60 instead?
$7.Suppose you see a car with an advertised price of$26,300 at $594.10 per month for 5 years. What is the amount of interest paid?$

8. Convert the following credit card rate to the APR.
Oregon, 1 3/4% per month
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