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A new TV costs $675 and the finance rate is 9.5%. If a down payment of $75 is made and the TV is financed for one year, what is the monthly payment?
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5 votes
A new TV costs $675 and the finance rate is 9.5%. If a down payment of $75 is made

and the TV is financed for one year, what is the monthly payment?

User David Buckley
by
6.0k points

2 Answers

1 vote
The answer will be 57 dollars. Because the down payment is 75 dollars, you will need to reduce that. Then it will be 600 dollars. Then you will pay 50 dollars per month. Then add finance! Hope this helps!!!
User Asubanovsky
by
5.3k points
7 votes

Answer:

The monthly payment will be $54.75

Explanation:

Hope this helps!

User AFraser
by
6.3k points
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