Choose the one alternative that best completes the statement or answers the question. Solve the problem.
Find the installment price of a table bought on the installment plan with a down payment of $30 and 6 payments of $51.12.
Find the monthly interest rate.
What is the monthly interest rate if an annual rate is 17.5%?
Solve the problem.
Find the amount financed on a TV with a cash price $430.00 and a down payment of $86.00.
Find the amount financed if a $25 down payment is made on a camera with a cash price of $260.
Find the installment price of a laptop computer bought on the installment plan with $90 down and 36 payments of $33.05.
A mountain bike has a cash price of $690.00. Eric purchases the bike by making a down payment of $69.00 and 24 payments of $38.74. Find the finance charge.
The installment price of a watch is $310.74 with 6 monthly payments and a down payment of $30. Find the monthly payment.
The installment price of a food processor is $379.48 with 18 monthly payments and a down payment of $40. Find the monthly payment.
Find the monthly mortgage payment.
Sarah Fields wants to borrow $121,000 at 6.5% to buy a house. How much interest would she save by going with a 15-year mortgage over a 25-year mortgage?
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