Ricardo spends 8/9 hour reading the newspaper.he spends 1/4 of the time reading the world news and splits the remaining time equ
1 answer:
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Answer:
$223.71
Step-by-step explanation:
We are given the following information
- Manufacturer's suggested retail price (MSRP)=$15999
- Cash-back incentive=$1700
- Annual Interest Rate=4%=0.04
- Loan Duration=6 years
We use the loan repayment formula
Monthly Payment,
Where:
- Loan Amount, P=15999-1700=$14,299
- Monthly Interest Rate, r=0.04/12
- Total Number of Months, n=12 X 6 =72 Months
Esperanza can expect to pay $223.71 monthly.