Posted by **Jennifer** on Tuesday, June 24, 2014 at 7:10pm.

A carpenter spent $4500 to purchase a table saw , a circular saw, and a panel saw. He paid 5% down and financed the balance with a 30-month fixed installment loan with an APR of 5.0%. Determine the total finance charge and monthly payment for the loan.

- math -
**Reiny**, Tuesday, June 24, 2014 at 11:14pm
All your questions deal with the use of our 4 basic compound interest formulas.

What exactly do you not understand about these questions ?

They all are very straight forward.

- math -
**Jennifer**, Wednesday, June 25, 2014 at 9:03am
Thanks...I got it now:) It took me several hours and with a little help from my husband I understand it better.

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