Find the amount of interest and the monthly payment for the loan. Purchase a living room set for $3,800 at 12% add-on interest for 4 years. (Round your monthly payment to the nearest cent.)
$ per month
ALGEBRA - Ms. Sue, Sunday, May 27, 2012 at 10:49pm
Interest = 3,800 * 0.12 * 4
Add the interest to the cost of the set. Divide by 48.