The guy received good step three 12 months financing at the mortgage from eight

Carl purchased an alternative washing machine and you can dryer during the a complete cost regarding $3800. The guy produced a down-payment of $1500 and you may received a two season financing for the kept matter at mortgage out of six.2%. Their monthly payments could well be $ over 2 years.

Recommend back once again to the acquisition away from a tv to possess $4000. The newest consumer agrees so you’re able to a beneficial 4 year label at the a destination rate out of 4.5%. a) Utilize the algorithm to find the month-to-month cost commission b) Dictate the total installment payments

A kitchen table place is purchased to possess $5600. The purchase was funded having a beneficial step 3 12 months mortgage in the an interest rate from a dozen.5%. a) Use the algorithm to find the monthly fees percentage b) Dictate the installment payments.

Paul purchased a property recreation program in the a complete price of $6000. 5%. Use the formula to choose their monthly obligations. Confirm that that it suits the amount when you look at the Analogy 1. Continue reading →