Business and Finance

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Business Finance

Question Description

An entertainment center is financed at a total cost of $2305.31 including a down payment of $250. If the center is financed over 24 months, find the monthly payment. Round to nearest cent as needed.

Student has agreed that all tutoring, explanations, and answers provided by the tutor will be used to help in the learning process and in accordance with Studypool's honor code & terms of service.

Explanation & Answer

cost = 2305.31

down payment= 250

remaining= 2305.31-250= 2055.31

24 monthly payment= 2055.31/24= 85.63= $86

juteno (12527)
Boston College

Anonymous
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