Asked by Tally
A $104,000 selling price with $24,000 down at 81∕ % for 25 years results in a monthly payment of 2
A. $654.60.
B. $546.06. C. $645.60. D. $644.80.
Answer: C????
A. $654.60.
B. $546.06. C. $645.60. D. $644.80.
Answer: C????
Answers
Answered by
Reiny
So PV = 80,000
i = .085/12 = .0070833333....
n = 12(25) = 300
payment = x
x(1 - 1.00708333..^-300)/.00708333...) = 80,000
x = 644.18
which is none of the choices, D would come closest
i = .085/12 = .0070833333....
n = 12(25) = 300
payment = x
x(1 - 1.00708333..^-300)/.00708333...) = 80,000
x = 644.18
which is none of the choices, D would come closest
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.