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Find I. Choose the correct answer. Amount Financed (m) = $1,400 Number of Payments per year (y) = 12 Number of Payments (n) = 24 Total Interest (c) = $200.50 I = its not 7.7

Find I. Choose the correct answer. Amount Financed (m) = $1,400 Number of Payments per year (y) = 12 Number of Payments (n) = 24 Total Interest (c) = $200.50 I = its not 7.7
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Find I. Choose the correct answer. Amount Financed (m) = $1,400 Number of Payments per year (y) = 12 Number of Payments (n) = 24 Total Interest (c) = $200.50 I =

its not 7.7

User Ikenna
by
8.5k points

2 Answers

4 votes
Hi there!

The answer to your problem is I = 13.7%

Your friend, ASIAX
User JYelton
by
8.0k points
0 votes
(2×12×200.50)÷(1,400×25)*100=13.7%
User Shousper
by
8.9k points
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