Chapter14 - 9. 2000*3 = 6,000 1940*11=21,351 3440*3 =10,320...

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Kelli Owens ACCT 1011 Chapter 14 EOC 1. 34500-10000= $24,500 Amount Financed 24500/60= $408.33 450-408.33=41.67*60=2500 Finance Charge 3. 5673-1223=4450 Amount Financed 5729.76-4450 = $1279.76 Total Finance charge (1279.76/4450) 100=28.758652 Table factor @48 payments = 12.75% - 13% APR 5. 4450/1000 = 4.45 26.83 * 4.475 = $119.39 Payment Amonut 7. 210*10= 2100 210*26=5460 outstanding Balance 210*36=7560 Total monthly Payments 7560-7000=560 Total Finance Charge 36-10=26 Payments remaining 26/36 = 351/666 351/666 * 560 = $295.17 Rebate Amount 5460-295.14 = $5164.89 Payoff amount
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Unformatted text preview: 9. 2000*3 = 6,000 1940*11=21,351 3440*3 =10,320 3380*4 =13,520 3450*9 =31,050 82,241/30= $2741.37 Average daily balance * .015 = $41.12 Finance charge 11. 43995-8000= $35995 Financed 35995/1000=35.995 * 20.28 = $729.98 payment amount @ 8% 35.995*20.04 = $721.34 @ 7.5% 60(729.98-721.34)= $518.40 Total possible savings 13. 4100-50= $4050 Financed 95.10*60= $5706 total payments 5706-4050 = $1656 Finance charge 5706+50= $5756 deferred payment price 1656/4050 = .40889*100= 40.89 = 14.25% APR (1656+4050)/60 = 95.10...
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This note was uploaded on 04/12/2011 for the course ACCT 1011 taught by Professor Lawrenceroman during the Fall '07 term at Cuyahoga CC.

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