Homework Help: Business math

Posted by lo on Sunday, November 18, 2012 at 2:44pm.

To help consumers in this tough economic climate, Pikes Peak Harley-Davidson offered to finance a new motorcycle for qualifying customers at 13% down, 7.50% interest for 48 months during July 2009. Rich Martinez was interested in calculating what his monthly payment would be if he bought a $29,566 bike.

Calculate his monthly payment to the nearest cent.

Business math - Ms. Sue, Sunday, November 18, 2012 at 5:22pm
$29,566 * 0.87 = 25,722.42

(25,722.42 * 0.075) / 48 = ?

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