Register
John Sullivan bought a new Brunswick boat for $17,000. He made a $2,500 down payment on it. The bank's loan was for 60 months, and the finance charges totaled $4,900. What is his monthly payment?
170k views
5 votes
John Sullivan bought a new Brunswick boat for $17,000. He made a $2,500 down payment on it. The bank's loan was for 60 months, and the finance charges totaled $4,900. What is his monthly payment?

User DSchultz
by
8.8k points

1 Answer

5 votes
John has 17000 - 2500 = 14500 left to pay after the down payment

Then add on the finance charges 14500 + 4900 = 19400

The total of $19400 is to be paid over 60 monthly instalments, so John will be paying 19400÷60 = $323.30 per month
User Xilmiki
by
8.4k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Write words to match the expression. 24- ( 6+3)
Link Copied!