John Sullivan bought a new Brunswick boat for $17,000. He made a $2,500 down payment on it. The bank's loan was for 60 months, a

Question

Vaselesa [24]

3 years ago

6

John Sullivan bought a new Brunswick boat for $17,000. He made a $2,500 down payment on it. The bank's loan was for 60 months, a

nd the finance charges totaled $4,900. What is his monthly payment?

Mathematics

1 answer:

Rudiy27 · Answer 1 · 2022-04-29T15:03:11+03:00

Rudiy273 years ago

6 0

John has 17000 - 2500 = 14500 left to pay after the down payment

Then add on the finance charges 14500 + 4900 = 19400

The total of $19400 is to be paid over 60 monthly instalments, so John will be paying 19400÷60 = $323.30 per month