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Answer:
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Step-by-step explanation:
Answer: (-1,2)
Step-by-step explanation:
Answer:
a) $13588.08
b) $688.08
Step-by-step explanation:
Melissa had to purchase $12,900 worth of machinery for her business.
She made a down payment of $2100 and after that made monthly payments of $478.67 for the business loan for the rest.
Given that after years of paying monthly payments of $478.67, she finally paid off the loan.
Assume that she took 2 years to repay the loan.
a) Therefore, the total amount Melissa ended up paying for the machinery was $[2100 + (478.67 × 24)] = $13588.08 (Answer)
b) Therefore, the amount of interest that Melissa pay on the loan is $(13588.08 - 12900) =$688.08. (Answer)
