Question
Stereo Inc. sells a stereo system for $300 down and monthly payments of $80 for the next 3 years. If the interest rate is 4.25% per year, find:
a) The cost of the stereo.
Answer = $
b) The total amount of interest paid.
Answer = $
a) The cost of the stereo.
Answer = $
b) The total amount of interest paid.
Answer = $
Answers
DrBob222
a. $80/month x 12mo/yr x 3yr = ?
? + 300 = total cost.
? + 300 = total cost.