Use the Loan Payoff Table to Find the Monthly Payment

question 65

Multiple Choice

Use the loan payoff table to find the monthly payment and finance charge for the loan.
-Amount financed: $251,075
Number of months: 36
APR: 11%

• A)$8,338.20, $49,100.20
• B)$9,611.15, $94,926.40
• C)$8,102.19, $40,603.84
• D)$8,220.20, $44,852.20

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Definitions:

Production Order Quantity Model

An economic order quantity technique applied to production orders.

Production Departments

Divisions within a manufacturing or production company responsible for the actual production of goods or services.

Demand Rate

refers to the speed at which customers purchase or demand a product or service over a given period of time.

Production Order Quantity Model

An inventory management technique that determines the optimal quantity of products to order or produce, minimizing total inventory costs.