 | Installment Buying, Rule of 78, and Revolving Charge Credit Cards
Learning Objectives
LU 14–1: Cost of Installment Buying- Calculate the amount financed, finance charge, and deferred payment.
- Calculate the estimated APR by table lookup.
- Calculate the monthly payment by formula and by table lookup.
LU 14–2: Paying Off Installment Loans before Due Date- Calculate the rebate and payoff for Rule of 78.
LU 14–3: Revolving Charge Credit Cards- Calculate the finance charges on revolving charge credit card accounts.
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