Calculate the finance charge, the finance charge per $100, and the annual percentage rate for the following installment loan using the APR tables, Table 13-1 from your text (round dollars to the nearest cent).
Amount
Number of
Monthly
Finance
Finance
Financed
Payments
Payment
Charge
Charge per $100
APR
$2,800
18
$183.56
What will be an ideal response?
$504.08; $18.00; 21.75%
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