Find the finance charges on an 8.4 percent, 18-month, $1,000, single-payment loan when interest is computed using the simple interest method. Round your answer to the nearest cent. Using the simple...

Find the finance charges on an 8.4 percent, 18-month, $1,000, single-payment loan when interest is computed using the simple interest method. Round your answer to the nearest cent.

Using the simple interest method, find the monthly payments on a $4,500 installment loan if the funds are borrowed for 24 months at an annual interest rate of 6%. You can use financial calculator, Excel, or Exhibit 7.6). Round the answer to the nearest cent. Round the answer to the nearest cent.

$   per month

How much interest will be paid during the first year of this loan? (Use a monthly payment analysis similar to the one inExhibit 7.7.) Round your intermediate computations and final answers to the nearest cent.