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What is the amount of her monthly payment

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Erin grew tired of her old furniture and went shopping. A local store offered credit at an APR of 12%, with a maximum term of 4 years. The furniture will cost $5,000 -- with no down payment required. Using Table 7-2 in your textbook, calculate the following:

a) What is the amount of her monthly payment if she borrows for 4 years?

b) What is the amount of the finance charge over that 4-year period?

Please show work if applicable

Reference no: EM131760060

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