Break it off where the triangle goes into a square/ rectangle
Given:
PV = 13,440
i = 5.86% , compounded monthly
t = 4 years
13,440(0.0586/12))/(1-(1+0.0586/12)^-48= 15,109.44
15,109.44 + 156.60 = 15,266.04
15,266.04 - 13,440.00 = 1,826.04
<span>1,826.04/15,266.04 = 11.96 % Percentage total of Finance Charge of the total loa</span>
In order from least to greatest:
5/10 , 7/12 , 4/6
You have to find a common denominator of all 3 numbers which is 60 and then you proceed with the next steps.
