For this chart, use an APR of 15%. You will make monthly payments. Round your answers to the nearest cent.

Payment Beginning Payment Adjusted Finance

New

Number Balance Amount Balance

Charge

Balance

1

$1,000.00 $100.00

N

100.00

3

100.00

100.00

5

100.00

6

100.00

7

100.00

8

100.00

Total finance charge paid in eight payments $

An APR of 21.6% would yield what monthly rate?

%

If you paid 1.75% a month on the unpaid balance, what would the APR be?

%