Question
i am in the 6th and learning but stuck on this big one.
NANCY IS GOING ON A TRIP THAT COST 4800.00 PLUS 216. FOR TAX SHE IS DEPOSITING 1200. SHE WILL PAY IT OFF IN 24MONTHS WHAT ARE HER PAYMENTS? i KNOW THE ANSWER BUT DO NOT KNOW HOW TO WRITE IT AS AN EQUATION, pLEASE SHOW ME.
NANCY IS GOING ON A TRIP THAT COST 4800.00 PLUS 216. FOR TAX SHE IS DEPOSITING 1200. SHE WILL PAY IT OFF IN 24MONTHS WHAT ARE HER PAYMENTS? i KNOW THE ANSWER BUT DO NOT KNOW HOW TO WRITE IT AS AN EQUATION, pLEASE SHOW ME.
Answers
drwls
What is the interest rate? Are the payments made monthly? It sounds like she starts out owing $3816. If there were no interest rate charged, the payments would be 3816/24 = $159 per month