Asked by Arvee

you buy refrigerator for 12,800 and make a down payment of 2,500. if ypu finance the remainder at 8% annually for 3 years, how much will you actually pay for the refrigerator?
Answered by Reiny
I will assume you made monthly payments
let that payment be p
i = .08/12 = .00666...
n = 36
PV = 10300
p( 1 - 1.00666..^-36)/.00666.. = 10300
solve for p
(hint: it is around 320 )

take it from there
Answered by Anonymous
What the heck kind of fridge costs $12,800?!
Answered by Kristine Botial
10,300
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