Mathematics, 23.04.2020 02:05 jjaerere6609

A cattle rancher needs to construct a new silo in which to store cattle feed. The silo will cost $2000. The rancher pays 15% as a down payment and finances the balance for 60 months at an APR of 7.50% . Determine the rancher's total finance charge and monthly payment.

a) Total finance charge = $368.22; Monthly payment =$34.47

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