Question

. Melissa wants to check the accuracy of the finance charge on her promissory


note. She has a $6,000, 4-year loan at an APR of 3.11%. Round to the nearest cent.


a. What is her monthly payment?


b. What is the total of all her monthly payments?


c. What is the finance charge?


a


n ..mahoninto lend to 350% of the value of

Answer 1

Answer:

a. $152.18

b $7,304.64

c. $1,304.64