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Jacob purchases camping equipment at a cost of $3,450 by taking out an 9% add-on installment loan. The loan requires a 10% down payment and equal monthly payments for 2 years. How much are Jacob's monthly
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Jacob purchases camping equipment at a cost of $3,450 by taking out an 9% add-on installment loan. The loan requires a 10% down payment and equal monthly payments for 2 years. How much are Jacob's monthly payments?

User Rudo
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1 Answer

4 votes

Answer: 310.50

Explanation:

When you multiply 3450 and 9% then you get 310.50

User Greig
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