I think it’s the second one sorry if I’m wrong ahhh
Unfortunately, 15/32 is at its simplest form. There is no common factor between 32 and 15, meaning that the LCM is 15/32.
So, technically 15/32 is still the simplified version of 15/32.
Answer:
$76.69
Step-by-step explanation:
Purchase price = $2254
Interest rate on purchase = 22.48% = 0.2248
Payment time-line = 3 years = (3 * 12) = 36 months
To calculate the Monthly payment :
Total amount to be paid = (Purchase price + interest on the purchase price)
Total amount to be paid :
2254 + (0.2248*2254) = 2760.6992
Monthly payment :
Total amount / number of months
2760.6992 / 36
= 76.686088
= $76.69
