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Law Incorporation [45]
3 years ago
12

flora Quinton is buying a new air compressor for her auto repair shop. it sells for $1,299. She makes a down payment of $199 and

finances the remainder. How much does she finance?
Business
1 answer:
Luba_88 [7]3 years ago
3 0
I believe the answer is $1,100
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Balance after 30 years = $151,018.50

Explanation:

In order to calculate this, we will calculate the future value on an amount invested, gaining interest over the years of investment, and this is given by:

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2. For the last 20 years at 9.5%(0.095) interest:

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