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.

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  1. 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.

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    posted by Reiny
  2. 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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