Price of article = $315.50

Down payment = $31.55

Monthly payment amount = $16.50

Duration of payments = 20 months

True annual interest rate to the nearest tenth= %

1 answer

P = 315.50
dp = 31.55
mpa = 16.50

n = 20

315.50 -31.55 = 283.95

Mpa * n

16.50 * 20 = 330

Interest = 330-283.95

Interest = 46.05

rate = 46.05/283.95
Similar Questions
    1. answers icon 2 answers
  1. OMG I CAN NOT get this !!!!Purchase price of article = $495 Down payment = $50 Number of payments = 36 True annual interest rate
    1. answers icon 4 answers
  2. Purchase price of article = $3,000Down payment = $0 Number of payments = 36 Monthly payment amount=$93.33 True Annual Interest
    1. answers icon 1 answer
    1. answers icon 1 answer
more similar questions