Calculate the Finance Charge and Monthly Payment for the Following

question 55

Short Answer

Calculate the finance charge and monthly payment for the following loan using the APR tables, Table 13-1 from your text, rounding dollars to the nearest cent. $\begin{array}{llllll}\text { Amount } & \text { Number of } & & \text { Table } & \text { Finance } & \text { Monthly } \\ \underline{\text { Financed }} & \underline{ \text { Payments }} & \underline{\text { APR }} & \underline{\text { Factor }} & \underline{ \text { Charge }} & \underline{ \text { Payment }}\\\$5,000&24&13.25\%\end{array}$

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Definitions:

Ethical Absolutism

The moral philosophy positing that universal moral standards exist, enabling the judgment of actions as inherently good or bad, irrespective of the circumstances surrounding the action.

Ethical Absolutism

The moral principle positing the existence of definitive criteria for evaluating moral queries implies that specific deeds are inherently good or bad, irrespective of the circumstances surrounding the action.

Ethical Relativism

The belief that morality varies between individuals and cultures and that there are no absolute moral truths.

Cultural Relativism

The perspective that beliefs, values, and practices are understood based on one's own culture and should not be judged by the standards of another.