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Help in solving financial problem

Algebra
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A frig is needed. Sears offers them an installment loan at 15% (add-on rate). If the refrigerator at Sears costs $1,578 plus 5% sales tax, and Karen and Wayne plan to pay for the refrigerator for 3 years, what is the monthly payment?

Nov 13th, 2014

Total cost = 1578*(1.05) =1656.9


The monthly payment = $57.44

amort_nov13.xlsx 

Nov 13th, 2014

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Nov 13th, 2014
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Nov 13th, 2014
Dec 6th, 2016
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