amie needs a new roof on her house. The cash cost is $3800. She decides to finance the project by paying 8.0% down, with the balance paid in 48 monthly payments of $87.
amie needs a new roof on her house. The cash cost is $3800. She decides to finance the project by paying 8.0% down, with the balance paid in 48 monthly payments of $87.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Related questions
Question
Jamie needs a new roof on her house. The cash cost is
$3800.
She decides to finance the project by paying
8.0%
down, with the balance paid in
48
monthly payments of
$87.
a) What finance charge will Jamie pay?
b) What is the APR to the nearest half percent?
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