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1)The medical office purchased new computers at a cost of $1,855 at 14% add-on interest for...

1)The medical office purchased new computers at a cost of $1,855 at 14% add-on interest for 2 years. Find the APR (rounded to the nearest tenth of a percent) for the loan. (

2) Karen and Wayne need to buy a refrigerator because theirs just broke. Unfortunately, their savings account is depleted, and they will need to borrow money in order to buy a new one. Sears offers them an installment loan at 14% (add-on rate). If the refrigerator at Sears costs $1,500 plus 8% sales tax, and Karen and Wayne plan to pay for the refrigerator for 2 years, what is the monthly payment?

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Sosuti 13 SS Tnterest 14. years Time Per year 12 SS Jntorst 259.7 1 2 2 24 Tnstalment 122 Totel No. o.oI 7 Monhly Tnterest i)2) Refrigerntor ISoo Sales Tax も 120 I620 ISO0 |20 Cost Total Rafaizenater (2.ycar) 12 Number ofMonThp 24 lo Rak nturest (YeuPlease give it a thumbs up if you like the answer. Comment if any problem in solution. :)

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