Carl bought a different automatic washer and you can more dry in the a whole cost off $3800. The guy generated a downpayment out of $1500 and you may acquired a 2 season financing installment loans in San Jose IL with bad credit on the remaining matter in the mortgage loan of 6.2%. His monthly obligations might possibly be $ more 2 yrs.

Recommend to the purchase off a tv to possess $4000. The fresh new consumer believes in order to a good 4 year label on an interest speed off cuatro.5%. a) Utilize the algorithm to determine the month-to-month repayment commission b) Determine the total installments

A dining room table place is paid for to possess $5600. The acquisition is actually financed with good step three 12 months mortgage at an enthusiastic rate of interest off 12.5%. a) Utilize the algorithm to choose the month-to-month installment percentage b) Determine the entire installment payments.

Paul bought a home activities system at a total price of $6000. 5%. Use the algorithm to decide their monthly premiums. Confirm that this matches the quantity within the Analogy step one. Continue reading →