Question

You purchase a new desktop computer for $2,200. you put a 6% down payment and $100 per month on a 24 month purchase plan. determine the total finance

Answer 1

The total finance will be as follows:
Total=(downpayment)+(future payments)
Down payment=6/100*2200=$132
Total future payments=(monthly payments)*(number of months)
=24*100
=$2400
thus the total payment will be:
2400+132
=$2532