Question

To purchase 13700 worth of restaurant equipment for her business Maria made a down payment of 1500 and took out a business loan for the rest after 3 years of paying monthly payments of 371.16 she finally paid off the loan
What was the total amount Maria ended up paying for the equipment

How much internet did Maria pay on the loan

Answer 1

The total amount Maria ended up paying for the equipment will be $14,861.76. And The interest of Maria on the loan will be 8.48%.

What is Algebra?

The analysis of mathematical representations is algebra, and the handling of those symbols is logic.

To purchase 13700 worth of restaurant equipment for her business.

Maria made a down payment of 1500 and took out a business loan for the rest, after 3 years of paying monthly payments of 371.16 she finally paid off the loan.

The total amount Maria ended up paying for the equipment will be

Total amount = 371.16 × 3 × 12 + 1500

Total amount = $14,861.76

The interest of Maria on the loan will be

Interset = [(14861.76 – 13700) / 13700] x 100

Interset = 8.48%

More about the Algebra link is given below.

brainly.com/question/953809

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