Solve the problem.
-An item is purchased for $10,000 with a down payment of $3000. There is a finance charge of $2000. Find the monthly payment if 60 payments are made.

Name: Solve the problem. -An item is purchased for $10,000 with a down payment of $3000. There is a finance charge of $2000. Find the monthly payment if 60 payments are made.
Brand: Quizplus
Rating: 4.9 (43 reviews)

Question

Quizplus · Accepted Answer

The total amount to be financed is $10,000 - $3,000 + $2,000 = $9,000. Dividing $9,000 by 60 payments gives a monthly payment of $150.00.

Solve the Problem. -An Item Is Purchased for $10,000 with a Down Payment