Question

Jason obtains an installment loan of $12,000. His down payment is 25% and the APR is

9% for 36 months.

Answer 1

Answer: $333

Step-by-step explanation: $12000. Percentage Down payment = 25%. Absolute down payment = 25/100=12000 = $3000. Amount of loan (p) = 12000-3000 = $9000