what is loan amortization

Mathematics
Tutor: None Selected Time limit: 1 Day

A big-screen high-definition television (HDTV) has a cash price of  . If buyers choose an installment payment plan, they must make a down payment of  , make  equal monthly payments, and pay an annual finance charge of  . What is the amount financed and monthly payment?

Jun 21st, 2015

Thank you for the opportunity to help you with your question!

Let the down payment be D, and cash price be C and annual financial charge be F

monthly charges will be C

The amount financed= (D)+(time*D)+F

Monthly payment =D

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Jun 21st, 2015

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