Answer:
hello your question is incomplete below is the complete question
To purchase $14,500 worth of restaurant equipment for his business, Hans made a down payment of $1800 and took out a business loan for the rest. After 2 years of paying monthly payments of $562.88. , he finally paid off the loan. What was the total amount Dean ended up paying for the equipment ( including the down payment and monthly payments )
answer: $15309.12
Step-by-step explanation:
Initial cost of equipment = $14500
Down payment = $1800
cost of equipment = 14500 - 1800 = $12700
Monthly payment = $562.88
Therefore payment made after 2 years = ( 562.88 * 24 ) = $13509.12
<u>Total amount paid by Dean for the equipment </u>
= down payment + monthly payments
= $1800 + $13509.12
= $15309.12
