A motorcycle can be acquired for 5,000.00 down payment and a monthly payment of 3,000.00 for 3 years. Using 3% effective monthly rate, what is the cash price of the motorcycle?
A motorcycle can be acquired for 5,000.00 down payment and a monthly payment of 3,000.00 for 3 years. Using 3% effective monthly rate, what is the cash price of the motorcycle?
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter1: Functions
Section1.1: Functions Given By Formulas
Problem 2TU: What is your monthly payment if you borrow 5000 at a monthly rate of 0.61 and pay it off in 5 years?
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