Each loan given below will be paid off next month. Complete the table.

		Monthly	Balance of Loan	Monthy Finance Charges	Final Payment Amount
Sally	$6.9 \%$		$\$ 7,470.06$

Each loan given below will be paid off next month. Complete the table.

Calculate the finance charge for a credit card that has the given average daily balance and interest rate. Average daily balance: $391.64; monthly interest rate: 1.75%

Monthly statement for Jane Cook.
All-Charge bankcard.
Previous balance of $529.78.
Payment of$85.
New purchases: $277.32,$38.20.
Finance charge of $7.95.
What is the new balance?

Marta is planning to buy a new car. She will finance $\$16,000$ at an annual interest rate of $7\%$ over a period of $60$ months. In the formula, $P$ is the amount of each payment, $r$ is the annual interest rate in decimal form, and $t$ is the time in years of the loan.

$$\text { Amount financed } = P \left[ \frac { 1 - \left( 1 + \frac { r } { 12 } \right) ^ { - 12 t } } { \frac { r } { 12 } } \right]$$

Assuming that she does not pay ahead, what will she have paid on the car?

Find the term that completes each sentence. Use each term only once.

The method that calculates the balance subject to finance charges by subtracting payments and credits from the previous balance is called the $\underline{~~~~?~~~~}$

$$\begin{array}{|l|}\hline \text{adjusted balance method}\\ \text{annual percentage rate}\\ \text{average daily balance method}\\ \text{cash advance}\\ \text{consolidation loan}\\ \text{credit terms and conditions}\\ \text{credit score}\\ \text{debt}\\ \text{debt-to-income ratio}\\ \text{grace period}\\ \text{periodic finance charge}\\ \text{periodic rate}\\ \text{previous balance method}\\ \text{total finance charges}\\ \hline \end{array}$$

Anthony Delgado has a credit card with an APR of $15 \%$. His balance that is subject to finance charges is ${\$ 2 8 5 . 9 2}$

What is his monthly periodic rate?

Diego Chavez has a charge account with a previous $112.34 balance, a$3.55 finance charge, new purchases of $87.50 and$115.60, a $100.00 payment, and a$25.00 credit. What is the new balance?

Malik and Brianna Gray took out an installment loan to pay for their new car. They borrowed $25,000.00 for 72 months with a finance charge of$10,500.00. To the nearest hundredth of a percent, what is their APR?

Don purchases a new bicycle that sells for $2350 using a bank loan. To finance the loan the bank will require a down payment of 15% and monthly payments of$90.79 for 24 months.

we gave two examples of market anomalies (the earnings-announcement puzzle and the new-issue puzzle). Do you think behavioral finance can help to explain these anomalies?

A futon has a cash price of $650. To buy it on an installment plan, you pay$100 down and $40 a month for 18 months . What finance charge will you pay for this purchase?

Which of the following items are properly classified as part of factory overhead for $\text{\textcolor{#4257b2}{Caterpillar}}$?

d. Vice president of finance’s salary

Eleanor Penny had a $1,987.00 water softener installed. She made a down payment of$87.00. She can finance the remainder through the dealer at $169.00 a month for 12 months. She could also obtain a credit union loan at$114.19 per month for 18 months. Find the following for each loan: the finance charge, the APR, and the total amount paid. Which payment plan is the best deal? Why?