Mathematics, 18.02.2020 18:47, yogiiiii7131
Tim Worker buys a new sofa for $629.95. He pays 25% down and takes an installment loan to complete the purchase. He makes 12 payments which include his principal and a $60.00 finance charge. What is the APR on his loan to the nearest tenth?
a. The down payment is $
b. The amount financed is $
c. The monthly payment will be $
d. At the end of one year the monthly payments will total $
e. The finance charge for one year ÷ amount financed is
Answers: 2
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Tim Worker buys a new sofa for $629.95. He pays 25% down and takes an installment loan to complete t...
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