eve found a furniture store that sells an entertainment center she wants for $2,445. if the store offers a one-year loan, with a
10% down payment and monthly payments of $195, how much would she pay in interest
1 answer:
Answer:
$90
Step-by-step explanation:
Given from the question that the down payment is 10% the selling price of the store this will be;
10/100 * $2445 = $244.50
Monthly payments = $195
For one year, paying $195 per month will give a total of : $195 * 12 =$2340
Adding the down payment to get total amount paid = $2340 + $195 = $2535
The interest paid will be : $2535 -$2445 = $90
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