Assignment:
Q1. Find the amount of interest and monthly payment for the loan. Purchase a car for $42,500 at 2.9% add-on rate for 5 years. (round your answers to the nearest cents).
Q2. Convert the following credit card rate to the APR. Nebraska, 0.03014% daily rate. (round you answer to the nearest who number.)
Q3. Calculate the monthly finance charge for the following credit card transaction. Assume that it takes 10 days for a payment to be received and recorded and that the month is 30 days. $3,000 balance, 21% rate, $1,500 payment - (adjusted balance method)
Q4. Make a 5% offer on a Volkswagen New Beetle that has a sticker price of $22,120 and a dealer cost of $20,869. (round to the nearest dollar.)
Provide complete and step by step solution for the question and show calculations and use formulas.