Answer:
I hope this can help you!
Step-by-step explanation:
a. Determine the down payment.
down payment is 30% of 26,000 = 7,800.
b. Determine the amount financed
amount financed is 26,000 minus 7,800 = 18,200.
c. Determine the finance charge
finance charge is 5% / 12 = .416666...% per momth.
d. Determine the monthly payment
monthly payment is $343.46 per month.
-Agarvated
