Calculate the finance charge and amount financed

Assignment Help Financial Management

Reference no: EM131544118

Ramon Hernandez saw the following advertisement for a used Volkswagen Bug and decided to work out the numbers to be sure the ad had no errors. Cash price $7,750 Down payment $0 Annual percentage rate 13.53% Deferred price $10,727.40 or 60 payments at $178.79 per month a. Calculate the amount financed. Amount financed $ b. Calculate the finance charge. (Do not round intermediate calculations. Round your answer to the nearest cent.) Finance change $ c. Calculate the APR by formula. (Do not round intermediate calculations. Enter your answer as a percentage rounded to 1 decimal place.) APR by formula %

Reference no: EM131544118

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