Using the examples above, answer the following questions. bob borrower purchased a television for $299.95. he paid 25% down and agreed to pay $21.59 for 12 months.
his 25% down payment was $.
so he will finance $.
at the end of one year, his monthly payments will total $.
to the nearest tenth, his apr will equal %.

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Using the examples above, answer the following questions. Bob Borrower purchased a television for $299.95. He paid 25% down and agreed to pay $21.59 for 12 months. To the nearest tenth, his APR will equal %.

1. Down payment =$74.9875

2. He financed 299.95 - 74.9875 = $224.9625

3. At the end of one year, his monthly payments will total $259.08

4.The APR to the nearest tenth is 15.2%

Step-by-step explanation:

If Bob borrower purchased the television for $299.95 and he paid a 25% down payment, is down payment will be equal to

$299.95*0.25 = $74.9875

Down payment =$74.9875

So he financed 299.95 - 74.9875 = $224.9625

If he agreed to pay $21.59 monthly, at the end of one year he would have paid 21.59*12 = 259.08

the APR = ((259.08 - 224.9625)/224.9625)*100 =15.1658

The APR to the nearest tenth is 15.2%

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step-by-step explanation:

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