Using the examples above, answer the following questions. Alice Buyer purchased a computer for $345.95. She paid $100.00 down an
d 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 %.
2 answers:
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%
345.95−100
=245.95
22.92×12
=275.04
((275.04−245.95)÷245.95)
×100
=11.8%
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