Question

Using the examples above, answer the following questions. Alice Buyer purchased a computer for $345.95. She paid $100.00 down and agreed to pay $22.92 for 12 months.
She will finance $.

At the end of one year her monthly payments will total $.

To the nearest tenth, her APR will equal %.

Answer 1

Answer:$245.95   b.$275.04    c.11.8%

Step-by-step explanation:

Alice Buyer purchased a computer for $345.95. She paid $100.00 down and agreed to pay $22.92 for 12 months.

a.if the cost of the computer outrightly is  $345.95, then she has  $345.95- $100.00=$245.95

She will finance $245.95

b.therefore,she pays $22.92 back for a month ,for 12months she pays

12*$22.92=$275.04

At the end of one year her monthly payments will total $275.04

c.To get the APR

245/275.04*100%= 11.8%

Answer 2

345.95−100
=245.95

22.92×12
=275.04

((275.04−245.95)÷245.95)
×100
=11.8%