Annual percentage rate-finance charges

Reference no: EM13130211

Please show step by step solutions.

1. A copier that originally cost $300 was sold on the installment plan as $28 per month for 12 months. Find the installment price if no down payment was made. Find the finance charge.

2. Find the yearly rate of interest on a loan if the monthly rate is 2%.

3. Office equipment was purchased on the installment plan with 12 monthly payments of $11.20 each. If the cash price was $120 and there was no down payment, find the annual percentage rate.

Reference no: EM13130211

Questions Cloud

How do you learn to read and write? : How do you learn to read and write?

The case of abortion : the intent to terminate the pregnancy and rid the body of the embryo is clear. In the forced c-section cases, which you will read for this activity, the motivation for refusing a C-Section is not nearly as obvious and typically centers around the ..

Determine total cost of manufacturing the new product : The company makes several other products that utilize some of the same manufacturing procedures as the new product. Which cost estimation method would be the best method to determine total cost of manufacturing the new product?

How to conclude that the bulbs will last between range : It has been determined that the mean life is 1000 hours and the standard deviation is 50 hours. It can be concluded that at least 89% of the bulbs will last between?

Annual percentage rate-finance charges : A copier that originally cost $300 was sold on the installment plan as $28 per month for 12 months. Find the installment price if no down payment was made. Find the finance charge.

Elimination in the consolidation process : The amount of unrealized intercompany profit in ending inventory at December 31, 2006 that should be eliminated in the consolidation process is:

Explain how much different is it to be able to take losses : Explain how much different is it to be able to take losses when the taxpayer is not active in the business but merely a "passive investor"?

Explain the smallest molecular dipole moment : For each pair of compounds below, indicate the more reactive in the type of mechanism specified. Briefly state why. Explain the smallest molecular dipole moment

Explain how much cost in total would be allocated : How much cost, in total, would be allocated to the Business Development activity cost pool? Explain how much cost, in total, would be allocated to the Other activity cost pool?

User Account

All Pages