Monday

December 22, 2014

December 22, 2014

Posted by **Anonymous** on Tuesday, November 13, 2007 at 4:45am.

I need to know how to figure out ....

A loan requires a 12% down payment and 24 equal monthly payments of $195.,what would the finance charge of the loan be

- Math -
**bobpursley**, Tuesday, November 13, 2007 at 7:28amYou did not specify how much was borrowed.

- Math -
**Anonymous**, Tuesday, November 13, 2007 at 11:54amSorry about that 4,200 would be the about borrowed. The loan requires a 12%

down payment and 24 equal monthly payments of $195. I need to figure out what would be the finance payment on the loan please explian how to do this thanks :)

- Math -
- Math -
**Ms. Sue**, Tuesday, November 13, 2007 at 12:35pmFirst take 12% of $4200. Subtract it from $4200. That gives you the amount you're financing.

Next multiply 24 * 195. That gives you the total amount you'll pay.

Subtract the amount you're financing from the amount you'll pay.

Divide the amount you're financing by this difference.

If you post your answer, we'll be glad to check it.

**Answer this Question**

**Related Questions**

math repost with correct info - A loan requires A 12% down payment and 24 equal ...

business math - financing furniture that costs $4200.00 with a two year ...

Math - please help me I am not really sure about this please check answer thanks...

math - Wallace and Sarah purchased furniture for their new home. They had two ...

math - Jeanna wants to buy a new boat for her family. She has two payment ...

mathematics - The monthly loan payment was calculated at 119 payments of $330.38...

Math - 4. Vanna has just financed the purchase of a home for $200 000. She ...

Maths - Firm has a $500,000 loan with 9% APR (compounded monthly) Loan is 5-yr ...

Math - please check my answer thanks :) Mark has a finance charge on a loan of $...

Finance - Dave takes out a 30-year mortgage of 200000 dollars for his new house...