Earl Miller plans to buy a boat for $19,500 with an interest charge of $2,500. Earl figures he can afford a monthly payment of $650. If Earl has to pay 36 equal monthly payments, by how much can he afford the boat per month

Answer 1

since they've given the total amount of interest, just add it to the principal and divide by 36.

(19500+2500)/36 = 611.11

Looks like he has $38.89/month to spare.