(Statistics) Can someone help explain how to do this
1 answer:
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Answer:
$66.5
Step-by-step explanation:
The cost, including tax, amounts to $850.00.
Down payment =$150
Amount after paying down payment = $850-$150=$700
Interest rate = 14 %
So, interest on $700 =
So, c = $98
Total payment = amount financed + c = 700+98=$798
Now Joe finances the grill over 12 months
So, no. of payments = 12
Now Monthly payment = Total of payments ÷ number of payments
=798 ÷ 12
=$66.5
Hence Joe's monthly payments (principal plus interest) is $ 66.5