Orestes purchases a patio set costing $2,430 by taking out an 12.5% add-on installment loan. The loan requires a 20% down payment and equal monthly payments for 3 years. How much are Orestes' monthly payments?
A) $82.67
B) $74.25
C) $125.33
D) $96.49
Correct Answer:
Verified
Q20: The _ rate is the lending rate
Q21: Mariann purchases a kitchen set costing $3,480
Q22: You take out an installment loan to
Q23: Jacob purchases camping equipment at a cost
Q24: Carlee takes out an installment loan to
Q26: Karolyn takes out an installment loan to
Q27: Ravonda purchased a ring costing $30,000 by
Q28: Adriana wishes to take out an installment
Q29: Your Office Supply has a $42,500 line
Q30: Boyd purchases a snow blower costing $1,752
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents