Post a New Question

math

posted by .

OMG I CAN NOT get this !!!!
Purchase price of article = $495

Down payment = $50

Number of payments = 36

True annual interest rate = 18%

Monthly payment amount = $
The formula is I= 2YC
________
M(N+1)

y = the number of payments made in a year.
m = the amount financed or how much money was loaned.
c = the total amount of interest charges.
n = the number of payments for the whole loan.
I = interest

Answer This Question

First Name
School Subject
Your Answer

Related Questions

More Related Questions

Post a New Question