Carl ordered a new washing machine and you can dryer on an entire rates of $3800. The guy produced an advance payment out-of $1500 and you will acquired a two season mortgage toward remaining number during the an interest rate out-of six.2%. His monthly premiums was $ more 2 years.

Recommend back into the acquisition away from a television to own $4000. This new customer agrees to a beneficial 4 season label in the an appeal speed away from 4.5%. a) Use the algorithm to select the monthly cost percentage b) Influence the full installment payments

A dining table place is purchased getting $5600. The purchase are financed which have good step three season financing on an interest rate of twelve.5%. a) Make use of the formula to determine the month-to-month cost fee b) Dictate the installments.

Paul purchased property recreation program at a complete cost of $6000. 5%. Make use of the algorithm to determine their monthly payments. Concur that this fits extent into the Analogy 1.

Cassie purchased a new washer and you will more dry during the a complete rates off $3800. 2%. Make use of the algorithm to decide her monthly payments. Make sure this matches the total amount in the Give it a try step one.

Determine a) this new yearly repayments b)the complete payments and c) brand new loans costs to the good 5 year loan from $5000 in which costs are created per year as well as the interest was 6%. Read the rest of this entry »