Eric Rose wants to buy a Ford Explorer that costs $26,000 with an interest charge of $3,000. If there are 50 equal payments required, what will Eric's monthly payment be?
A)$580
B)$850
C)$520
D)$250
E)None of these

Question

Quizplus · Accepted Answer

The total amount Eric will pay is $26,000 + $3,000 = $29,000. Since there are 50 equal payments, his monthly payment will be $29,000 / 50 = $580.

Eric Rose Wants to Buy a Ford Explorer That Costs