Question
Julia purchased a new sofa for $1300 and made a 15% down payment and financed the rest over 12 months. The store charged 11% interest on the amount financed.
Find the down payment $
Find the amount financed: $
Find the interest paid: $
Find the monthly payment $
Find the down payment $
Find the amount financed: $
Find the interest paid: $
Find the monthly payment $
Answers
Ms. Sue
Down payment: 0.15 * 1300 = d
Amount financed: 1300 - d = c
Interest paid: 0.11 * c = b
Monthly payment: b/12
Amount financed: 1300 - d = c
Interest paid: 0.11 * c = b
Monthly payment: b/12
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